Kroger is getting a new member to its strong lineup of Board of Directors—the current Chairman and CEO of International Paper, Mark S. Sutton, is joining the ranks. Sutton will serve until Kroger's annual meeting of shareholders in June 2017 at which time he will stand for shareholder reelection.
Prior to Sutton’s position as head of International Paper, a producer of renewable fiber-based packaging, pulp, and paper products, he served also served as President and Chief Operating Officer for the company's global business. Sutton began his tenure with the company in 1984 as an electrical engineer, after which he held roles of increasing responsibility, including the following:
"We are delighted to welcome Mark to Kroger," said Rodney McMullen, Kroger's Chairman and CEO. "Mark's deep experience in an end-to-end business and global perspective make him a valued addition to Kroger's Board of Directors."
In addition to his experience with International Paper, Sutton is also a member of The Business Council and the Business Roundtable. According to a press release, he serves on several boards, including the American Forest & Paper Association and the International Advisory Board of the Moscow School of Management – Skolkovo, as well as the boards of Memphis Tomorrow and the New Memphis Institute.
Kroger recently made headlines for its announcement to offer an early retirement to 2,000 non-store associates, mainly focusing on administrative associates. The move signaled to many that the company would use 2017 to continue to lower its costs after a difficult third quarter.
As we head into the new year with new leadership, stay tuned for more updates on the company’s evolving strategy.