Kroger logo (Jakub Porzycki/Getty Images)

Kroger CEO steps down after board investigation finds personal conduction violation

Kroger shares dipped after the abrupt resignation of longtime CEO Rodney McMullen.

3/3/25 10:12AM

Kroger shares initially fell as much as 4% in premarket trading (but recovered most of the losses) after the abrupt resignation of longtime CEO Rodney McMullen. McMullen, who spent over 50 years at Kroger and led the firm since 2014, stepped down following a board investigation that found his personal conduct conflicted with the company’s “policy on business ethics.” Board member Ronald Sargent will serve as interim CEO, effective immediately.

The shake-up comes after Kroger scrapped its $25 billion merger with rival Albertsons in December, following a federal judge’s decision to block the deal. Shares of Kroger are up 31% over the past year and is scheduled to report fourth-quarter earnings before the bell on Thursday.

“Mr. McMullen’s conduct is not related to the Company's financial performance, operations or reporting, and it did not involve any Kroger associates,” per a statement from Kroger.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.