Kroger's CEO Rodney McMullen abruptly resigned after an investigation into his 'personal conduct'

• Kroger has abruptly replaced its CEO, the grocery chain said on Monday.
• Rodney McMullen resigned and will be replaced by Ronald Sargent.
• The chain said it learned about conduct "inconsistent with Kroger's Policy on Business Ethics."

Grocery chain Kroger will replace its CEO after an investigation into his personal conduct.

Kroger said on Monday that it learned about the conduct by Rodney McMullen, which was "inconsistent with Kroger's Policy on Business Ethics," according to a statement.

"On February 21, the Board was made aware of certain personal conduct by Mr. McMullen and immediately retained outside independent counsel to conduct an investigation, which was overseen by a special Board committee," Kroger said in a statement.

No Kroger associates were involved in McMullen's conduct, Kroger said. The behavior is also not related to the company's financial performance.

McMullen has resigned from the CEO role, Kroger said. He has been Kroger's CEO since 2014 and became chairman of the company's board of directors the following year.

The company appointed Ronald Sargent, a member of its board of directors and a former CEO of Staples, as interim CEO and board chair while it searches for a permanent replacement.

Mark Sutton will take over as the company's lead independent director, Kroger said.

Kroger is the largest supermarket chain in the US by sales. The company operates grocery stores under multiple names, including Harris Teeter and Fry's.

The company is expected to report fourth-quarter earnings on Thursday.

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