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Kroger Taps Former Walmart Exec Greg Foran as CEO
9 Feb
Summary
- Greg Foran, ex-Walmart executive, is set to become Kroger's new CEO.
- Kroger's CEO search lasted nearly a year after Rodney McMullen's departure.
- Foran led a turnaround of Walmart's U.S. business from 2014 to 2019.
Kroger is preparing to name Greg Foran, a former executive at rival Walmart, as its next chief executive. This decision follows a search for new leadership that has spanned nearly a year. Foran is expected to be announced as the new CEO as soon as Monday.
Foran's appointment comes at a critical juncture for Kroger, as the company grapples with rising food prices and the fallout from its failed $20 billion acquisition of Albertsons in 2024. He is recognized for his operational expertise, having previously overseen a significant turnaround of Walmart's U.S. division between 2014 and 2019.
His tenure at Walmart focused on enhancing fresh food offerings and improving store operations. After departing Walmart, Foran served as CEO of Air New Zealand until October of the previous year. This move also adds to a wave of new leadership in the retail sector, with Target and Walmart also recently installing new CEOs.
Kroger's chairman, Ron Sargent, has been leading the company during the CEO search. Under his guidance, Kroger has implemented cost-cutting measures, including job reductions and consolidation, to invest in lower prices and promotions. These strategies are helping to increase Kroger's market share amidst intense competition.
