Albertsons Companies has promoted Susan Morris to CEO, succeeding Vivek Sankaran who is set to retire, effective May 1.
Morris has been the EVP and COO at Albertsons since January 2018. She will also replace Sankaran on the board.
“Over the past several years, the board has engaged in a thoughtful and comprehensive succession planning process to identify Albertsons Cos’ next CEO, including evaluating internal and external candidates,” said Jim Donald, chair at Albertsons.
“With a nearly 40-year career at the company that began at an Albertsons store in the Denver market, Susan brings unmatched expertise and deep knowledge of the business.”
Meanwhile, the company reaffirmed its full-year guidance of 1.8 per cent to 2 per cent sales growth and $3.95 billion to $3.99 billion adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA).
Last year, federal and state judges blocked Kroger and Albertsons’ $24.6 billion proposed merger due to competition concerns.
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