US supermarket chain Kroger has announced that Gary Millerchip, the CEO of Kroger personal finance, will take over as the chief financial officer of the company, effective 4 April 2019.
Millerchip will succeed present CFO J Michael Schlotman, who will retire in December of 2019.
Schlotman will continue as the CFO up to 3 April 2019, after which he will continue as an executive vice-president to ensure a smooth transition.
Kroger's chairman and CEO, Rodney McMullen, said, "Mike is one of retail's most respected executives and has served Kroger for over thirty years.
"I deeply value Mike's contributions, the credibility he has earned with the financial community, and his leadership as a key member of our most-senior management team."
An Industry Veteran
In addition to his role as the CEO of personal finance in Kroger, Millerchip has also been responsible for several retail grocery divisions, and leads the integration of the company's corporate strategic initiatives.
"Gary's deep finance and business background, coupled with a successful track record of creating long-term shareholder value for The Kroger Co., make him an excellent choice for Kroger's Chief Financial Officer of the future," added McMullen.
Millerchip joined Kroger in 2010, and under his leadership Kroger personal finance delivered a double-digit growth year-on-year, making it a valuable alternative profit stream for the company.
Before joining Kroger, Millerchip was responsible for the Royal Bank of Scotland Personal Credit Card business in the UK.
He joined RBS in 1987 and held various leadership roles in multiple disciplines during his tenure there.
He holds a bachelor's degree in financial services from the University of Central England, and a post-graduate degree in business administration from the University of Warwick in the United Kingdom.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.