The former CEO of Kroger forfeited more than $11 million when he resigned from the grocery chain this week following an investigation into his personal conduct.
Kroger's filings with the Securities and Exchange Commission show that McMullen left behind $11.2 million in a potential bonus as well as stock and options when he left the company.
Without that compensation, McMullen still owned 6.6 million shares of Kroger, worth roughly $417 million at Tuesday's closing price.
According to an SEC filing, McMullen had total compensation as CEO of $15.7 million in 2023 and $19.2 million in 2022.
Kroger said on Monday that McMullen had resigned after an investigation into his "personal conduct."
The company provided few details but said it found that some of his actions were "inconsistent with Kroger's Policy on Business Ethics." Kroger said McMullen's actions weren't connected to other Kroger associates or the company's financial performance.
McMullen was appointed Kroger's CEO in 2014. For two years he oversaw the chain's proposed $24.6 billion merger with Albertsons, which fell apart in December.
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