Reports from within the firm have revealed that Kroger is undergoing a change in its top financial leadership. Gary Millerchip, the senior vice president and chief financial officer of The Kroger Co., will be stepping down from his position to pursue an executive role at another public company.
To fill the void left by Millerchip’s departure, Todd Foley, currently serving as the group vice president, corporate controller, and chief accounting officer, has been appointed as the interim chief financial officer. Kroger plans to announce a permanent CFO successor at a later date.
Rodney McMullen, Kroger’s chairman and CEO, expressed confidence in Foley’s ability to take on the role seamlessly, citing his extensive experience and contributions to Kroger’s growth and transformation over the past two decades. McMullen also thanked Millerchip for his 15 years of service to Kroger, acknowledging his role in supporting the company’s industry leadership and growth opportunities.
Foley brings over 30 years of finance experience to his new role. Since joining Kroger in 2001, he has held various key positions within the finance department, including assistant corporate controller, vice president, treasurer, and most recently, group vice president, corporate controller, and chief accounting officer. He has been instrumental in shaping Kroger’s financial strategy, including the implementation of the company’s current Leading with Fresh, and Accelerating with Digital strategy.
Kroger’s decision to initiate this CFO transition comes amidst ongoing strategic initiatives, including the pending merger with Albertsons. McMullen emphasised Kroger’s commitment to maintaining a strong financial framework and executing its strategy to deliver sustainable returns for shareholders, leveraging the talent and expertise of its deep bench of finance professionals.
The executive shuffle at Kroger reflects the company’s dedication to navigating the evolving retail landscape and positioning itself for continued growth and success in the market.
