CINCINNATI — Grocery chain Kroger announced Monday its CEO Rodney McMullen resigned. 

Kroger said McMullen resigned following a Board of Directors investigation of personal conduct that wasn't related to business, but was still "inconsistent with Kroger's Policy of Business Ethics."

What You Need To Know

  • Kroger said the concerns were unrelated to the business itself

  • The company didn't give any details as to the concerns made about McMullen

  • Ronald "Ron" Sargent will serve in the role in the interim as Kroger searches for a new CEO

The company said the board was made aware of concerns on Feb. 21, in which they immediately got outside independent counsel to investigation. Kroger did not give details about the concerns, but said it was not related to the company's financial performance, operations or reporting. It also didn't involve any Kroger associates. 

In the meantime, the board has appointment lead director Ronald "Ron" Sargent to serve as chairman of the Board of Directors as well as CEO, effective immediately. Additionally, the company said Mark Sutton will serve as Kroger's lead independent director.

"As interim CEO, I am committed to working alongside our proven and experienced management team and dedicated associates to ensure Kroger continues providing exceptional value for our customers," said Sargent in a release. "Kroger has been a special place throughout my retail career after spending summers in college working in stores, as well as my first ten years after business school at corporate headquarters, before more recently serving as lead independent director. My decades here have given me a full appreciation of what makes Kroger unique, and I am excited to work even more closely with this talented team. I plan to be a steady, but active hand in the execution of our strategy."

The Board of Directors said it has formed a search committee to search for its next CEO. Sargent will serve in the role until the next appointment. 

Kroger said it made its decision to make Sargent interim CEO due to his long tenure with the company. He has been a Kroger director since 2006 and served as lead director since 2017. He's worked in several other roles within the company and has 35 years of experience, which included being chairman and CEO of Staples from 2002 to 2016. 

"Over the years, Ron has played an integral role in the development and approval of Kroger's strategy, which has led us to the position of strength where we are today," said Mark Sutton, Kroger's newly appointed lead independent director, in a release. "Kroger will continue to deliver for our customers, invest in our associates, strengthen our communities, and reward our shareholders under Ron's leadership."