Kroger Says Gary Millerchip Is Stepping Down As Senior Vice President And CFO To Assume An Executive Role At Another Public Company; Todd Foley Appointed As Interim CFO
Portfolio Pulse from Benzinga Newsdesk
Gary Millerchip is stepping down as Senior Vice President and CFO of Kroger to take an executive role at another public company. Todd Foley has been appointed as the interim CFO.
February 05, 2024 | 10:06 pm
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NEGATIVE IMPACT
Gary Millerchip's departure as CFO and Todd Foley's appointment as interim CFO could lead to short-term uncertainty in Kroger's stock.
CFO transitions often lead to short-term stock volatility due to uncertainties about financial leadership and strategic direction. Although Todd Foley's appointment as interim CFO provides some continuity, the search for a permanent CFO and the reasons behind Millerchip's departure could raise questions among investors.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90