New Delhi, March 3 -- Kroger Co. announced on Monday that Chief Executive Officer Rodney McMullen has resigned after a board investigation determined his personal conduct was inconsistent with the company's "policy on business ethics," according to a new report.

As reported by Reuters, the company stressed that the conduct in question did not affect its financial performance, operations, or reporting, and did not involve any Kroger employees.

According to Kroger, the board became aware of McMullen's conduct on February 21 and immediately retained outside independent counsel to investigate the matter. The investigation was overseen by a special board committee. Following the announcement, Kroger's shares fell 1% in pre-market trading.

T...