Kroger CFO steps down By Reuters



© Reuters. FILE PHOTO: The Kroger supermarket chain’s headquarters is shown in Cincinnati, Ohio, U.S., June 28, 2018. REUTERS/Lisa Baertlein/File Photo

(Reuters) -Grocer Kroger (NYSE:) said on Monday that Gary Millerchip was stepping down as chief financial officer and that Todd Foley would take over the role on an interim basis.

Foley, who joined Kroger in 2001, was most recently group vice president, corporate controller and chief accounting officer of the company. “Todd is the right person to take the helm and will step in seamlessly to continue advancing our value creation model and maintain a strong financial framework for our company as we plan ahead for our pending merger with Albertsons (NYSE:),” Kroger CEO Rodney McMullen said in a statement.The company’s $24.6 deal to buy smaller rival Albertsons has come under intense scrutiny from regulators, U.S. lawmakers and consumer rights groups over antitrust and job loss concerns.

In January, the companies said they needed more time to close the deal.



Source link

Leave a Comment