Albertsons operating chief Susan Morris has held that post since January 2018. The disclosure of Sankaran’s impending departure comes the same day Kroger said CEO Rodney McMullen would resign.
Kroger appointed lead director Ronald Sargent as interim CEO, replacing its 10-year veteran leader after a failed merger with Albertsons.
Kroger posted lower-than-expected sales in its latest quarter, the first results since its terminated deal with Albertsons and Rodney McMullen's sudden departure. The supermarket chain posted net income of $634 million,
US supermarket chain Kroger has said that chief executive and chair Rodney McMullen has stepped down after a board investigation found his personal conduct was “inconsistent” with its policy on business ethics.
As CEO Rodney McMullen announced his resignation, same-store sale growth lagged behind competition and its proposed merger with Albertsons fell through. On Monday before market open, the company announced McMullen would be stepping down immediately "following a Board investigation of his personal conduct that,
Kroger CEO Rodney McMullen resigned from his post on Monday, weeks after a merger with Albertsons fell through.
Ex-Kroger CEO Rodney McMullen left over $11 million on the table when he left the grocer, according to the company's SEC filings.
Rodney McMullen, the now-former CEO of supermarket giant Kroger who stepped down following an investigation into his personal conduct, had to forfeit $11.2 million in unvested stock and options, according to government filings.
Under his leadership, Kroger has positioned itself as a formidable competitor to Walmart, Amazon, and other grocery giants.
The conduct is not related to financial performance, operations or reporting, and it did not involve any Kroger associates, the company said.
Kroger CEO Rodney McMullen resigns amid ethics probe, leadership shakeup follows failed Albertsons merger and pending litigation.