Kroger CEO Dillon to retire in January

CINCINNATI — Kroger CEO David Dillon will retire from that post when the new year begins but will stay on for another year as chairman. President and Chief Operating Officer Rodney McMullen will step into the CEO role as part of its long-term succession plan.

Dillon’s retirement is effective on Jan. 1, which is also when McMullen will take over the CEO position.

The nation’s largest traditional supermarket operator said Friday that the Dillon, 62, will continue to serve as chairman through Dec. 31, 2014. He’s served as CEO since 2003.

McMullen, 53, has served as president and COO since 2008 and as a board member since 2003. He’s held a variety of roles at Kroger, including vice chairman and chief financial officer. His successor will be named at a later date.

Last week Kroger Co. reported that its second-quarter profit climbed as it booked lower charges and tried to build shopper loyalty with improved offerings.

Kroger, which owns Fred Meyer and QFC and other chains, is based in Cincinnati.

Like other supermarket companies, Kroger is trying to adapt to a shifting industry. Shoppers are increasingly getting groceries at big-box retailers like Target, drugstores and dollar stores that have expanded their food sections. Specialty chains such as Whole Foods are playing a greater role, too.

To keep pace, Kroger has worked on shortening checkout wait times, expanded its store-brand lineup and invested in making its loyalty program more sophisticated. The company also recently bought Harris Teeter, a regional grocer that has locations in eight states.

Kroger shares slipped 23 cents to close at $40.76. Its shares earlier in the day set a new 52-week high of $41.14.

More in Herald Business Journal

More business, more competition for Everett kidney dialysis center

Nonprofit Puget Sound Kidney Centers sees large for-profit competitors enter state market.

Suitors, beware: In Seattle, Amazon also brought disruption

The company has grown there from a workforce of about 5,000 to more than 40,000 in 33 buildings.

Boeing rushes to bring back retirees as temps

It’s unclear if this could be a definitive turn in the downsizing tide.

Tax cuts won’t generate as much economic growth as Trump says

There’s little historical evidence that tax cuts actually pay off in boosting economic growth long-term.

City of Marysville adds HR director

The City of Marysville has hired Bill Kolden as its new human… Continue reading

Economic Alliance to host After Hours event at Clothes for Kids

The next Economic Alliance Snohomish County Business After Hours event is from… Continue reading

Speed Networking planned by Lynnwood Chamber

The next Good Morning, Lynnwood Chamber Speed Networking is from 7:30 to… Continue reading

More self-awareness could help build a better medical system

Marcy Shimada of Edmonds Family Medicine writes the second in a series about fixing our health care system.

Scratch-and-sniff brochures aimed to prevent disaster

Puget Sound Energy has distributed more than a million scratch-and-sniff brochures to… Continue reading

Most Read