Kroger Appoints Greg Foran as CEO Following Leadership Shakeup

According to The Wall Street Journal, Kroger, a USA-based grocery store chain founded in Cincinnati, Ohio, in 1883, has named Greg Foran as its next CEO. 

Foran is a former executive at Walmart, one of Kroger's largest competitors. 

The company made the official announcement on Monday, but the Journal reported it on Sunday. 

More on the Hiring

After Walmart, Kroger is the biggest grocery store by sales. The company saw its longtime CEO, Rodney McMullen, depart following an undisclosed ethics violation. In his place, chairman Ron Sargent, formerly of Staples, was in his place. Also, when McMullen left, many other executives departed from the company. 

With the hiring of Foran, 64, he'll step in immediately, and the move has resulted in a 6% increase in premarket trading. 

The Journal reports that Kroger was seeking an external candidate to bring a fresh perspective. 

Foran is entering a situation where it's trying to keep prices down amid inflation and to expand after a deal to acquire Albertsons for $20 billion fell apart in 2024. Also during Sargent's stint, Kroger has been cutting costs while trying to use the savings to lower prices. The company cut 1,000 corporate jobs, consolidated regional divisions, and closed stores and e-fulfillment centers. 

In fiscal year 2024, Kroger reported $147 billion in revenue. 

Foran's Background

As mentioned, Foran comes from Walmart, where he was the chief executive of the U.S. business from 2014 to 2019. While there, he helped improve fresh-food selection and the store's appearance. 

After leaving Walmart, Foran, who's from New Zealand, became the CEO of Air New Zealand. He was in that role during the pandemic and through last October. 

According to the Journal, Foran is known as demanding but also fair and detail-oriented, while working long hours. The Journal also said that on Saturday mornings, he would take other executives on a company plane to visit stores. 

During his visits, he would inspect the quality of produce and meat and would ask the workers questions. He also worked on reducing overall inventory while making customer service and online grocery shopping better.