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Kroger names former Walmart executive as its new CEO
Greg Foran, known for revitalizing Walmart U.S., takes helm at Kroger amid rising competition and a 17% e-commerce sales increase, aiming to strengthen operations and digital growth.
- On Monday, Kroger Co. named Greg Foran its chief executive, effective immediately, ending an almost year-long search after Rodney McMullen's abrupt resignation last March.
- After a blocked mega-merger, Kroger sought an external leader following its failed Albertsons merger and regulatory fights, aiming for fresh perspective amid weak consumer spending, Kroger executives said.
- Foran's résumé includes leading Walmart U.S., where he drove a turnaround with 20 quarters of sales growth, and recently guiding Air New Zealand through the pandemic while enhancing digital capabilities.
- The board signaled stability by saying Kroger shares rose about 6% in premarket trading on Monday, and Sargent will remain chairman during the leadership transition, with an update during the March 5 earnings call.
- Given Kroger's scale and recent cost cuts, analysts say Foran will likely prioritize strengthening in-store execution and accelerating digital growth to compete with Walmart's 21% market share.
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Veteran Walmart Exec Is Kroger's New CEO
Kroger is turning to a veteran of its biggest rival to steer the supermarket giant through a turbulent moment in food retail. The Cincinnati-based chain has named former Walmart executive Greg Foran as its new chief executive, effective immediately, ending an almost yearlong search that began after longtime CEO Rodney...
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Kroger names former Walmart executive Greg Foran as its new CEO
Kroger named former Walmart executive Greg Foran as its chief executive officer on Monday, 11 months after the abrupt resignation of its previous CEO. Foran has a reputation as a tech-savvy and detail-oriented leader. He led Walmart’s U.S. division from 2014 to 2019, where he focused ...
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Total News Sources47
Leaning Left6Leaning Right4Center27Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 16%
C 73%
11%
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