Greg Foran, a former Walmart executive, has been named Kroger’s new CEO 11 months after its former CEO resigned, the Associated Press reported.
Foran led Walmart’s U.S. division from 2014 to 2019 where he was credited with ensuring items were in stock and improving the fresh produce section. He was also behind launching online ordering and pickup.
Kroger is the largest standalone U.S. supermarket chain, and the announcement saw its shares increase 6.3% on Monday.
Walmart controls roughly 21% of the U.S. grocery market, with Kroger at 8.5%, according to market research company Numerator.
