Kroger has appointed former Walmart executive Greg Foran as its new CEO, following a year-long search after Rodney McMullen was ousted in March for conduct “inconsistent” with company policies.

Foran, formerly CEO of Air New Zealand and head of Walmart U.S., is credited with turning around Walmart’s operations, achieving 20 quarters of comparable sales growth.

He takes over as Kroger faces weak consumer spending and rising competition, including from Walmart.

Ronald Sargent, the interim CEO and former Staples executive, will remain board chairman to help ensure a smooth transition, CNBC has reported.

Kroger’s shares rose about 6% in premarket trading, and the company reaffirmed its fiscal year 2025 forecast.