Kroger stock jumps as ex-Walmart boss Greg Foran takes the CEO job

NEW YORK, February 9, 2026, 10:20 EST — Regular session

• Kroger stock jumped 7.6% to $72.60 after the company tapped Greg Foran as its new CEO.
• Foran, who previously ran Walmart’s U.S. division, steps in right away. Ron Sargent remains board chair.
• Kroger’s March 5 earnings call is up next, with investors watching for updates on strategy and what’s at the top of the company’s agenda.

Kroger stock jumped Monday, following news that Greg Foran—a former Walmart executive—has been tapped as chief executive, capping a year with the role held on an interim basis.

It’s a tricky time for U.S. grocers. Shoppers are more price-sensitive, and investors are pressing Kroger to show it can keep margins intact as it leans harder into online orders and delivery.

Before his stint at Air New Zealand, Foran spent five years overseeing Walmart’s U.S. business—from 2014 to 2019. He made his mark there by tightening up in-store execution and pushing digital offerings like online order and pickup. During that period, Walmart notched 20 consecutive quarters of comparable sales growth—a figure that excludes new locations to gauge core demand.

Evercore ISI’s Michael Montani called Foran’s track record at Walmart U.S. stores a credibility boost for Kroger, saying, “(We) believe he (Foran) brings instant credibility to Kroger after his demonstrated success turning around Walmart U.S. store operations.” But Morgan Stanley flagged Kroger’s sprawling mix of banners as a tougher hand than the single-chain setup at Walmart, writing that Foran “would inherit a far more complex multi-banner portfolio” here. 1

Kroger named Foran to the board, with the appointment taking effect right away. Sargent, interim CEO since March 2025, will continue as chairman. “Greg is a highly respected operator who knows how to run large-scale retail businesses,” Sargent said. Foran, for his part, called the position “the best job on the planet.” Kroger plans to update investors on the transition at its March 5 earnings call and kept its fiscal 2025 outlook unchanged. 2

Rodney McMullen stepped down as CEO last March, following a board probe that concluded his behavior didn’t line up with some company policies, the company said then. The grocer has been on the hunt for a new permanent chief ever since. 3

Kroger’s leadership shakeup comes on the heels of its failed $25 billion attempt to acquire Albertsons—a plan derailed by mounting political and regulatory pushback. Now, the grocer is staring down stiffer competition. Walmart’s grip on the U.S. grocery sector has only tightened. 4

Foran will be pressed right away on how Kroger plans to ramp up digital sales while keeping delivery expenses and aggressive promos from eating into margins—no small feat if more budget-conscious shoppers keep opting for cheaper options.

No margin for error on store execution here. One soft quarter, getting pricing wrong, or a hiccup from labor negotiations or supply snags—all of that could wipe out Monday’s relief rally in a hurry.

The next big date for investors: March 5. That’s when Kroger will release earnings and discuss the leadership transition on its call.