Consumer discretionary stocks declined as looming tariffs fuel concerns about inflation and economic growth in the U.S., while the consumer staple sector was slightly higher. Supermarket operator Kroger announced the resignation of CEO Rodney McMullen following a board investigation into his personal conduct.

The supermarket chain said Rodney McMullen’s conduct wasn’t related to its financial performance or operations but it was inconsistent with its ethics policy.

Mr. McMullen’s conduct is not related to the company’s financial performance, operations or reporting, and it did not involve any Kroger associates,” the company said.

Kroger Chairman and CEO Rodney McMullen is stepping down after an internal investigation into his personal conduct.

Board member Ronald Sargent will serve as Chairman of the Board of Directors and interim Chief Executive Officer

The Cincinnati company's results come just days after the abrupt resignation of long-time Chief Executive Officer and Chairman Rodney McMullen over personal conduct. They're also the first since a federal judge blocked a $20 billion deal to takeover smaller rival Albertsons.

Kroger’s total company sales were $34.3 billion in the fourth quarter compared to $37.1 billion for the same period last year.

Kroger board member Ron Sargent is taking the helm at the nation’s largest supermarket chain as questions about former CEO Rodney Mullen continue.