Kroger Co.’s stock slid 1.5% Monday after the company announced the departure of Chief Executive Rodney McMullen, who has resigned after a board investigation of his personal conduct. The Cincinnati-based company did not offer details of the conduct but said it was “inconsistent with Kroger’s Policy on Business Ethics.

The grocery chain said it had investigated its chief executive, Rodney McMullen, and found that his actions were “inconsistent” with its business ethics policy.

Kroger CEO Rodney McMullen resigns amid ethics probe, leadership shakeup follows failed Albertsons merger and pending litigation.