Albertsons Names New CEO Following Failed Deal With Kroger
COO Morris to Take Helm; Grocery Company Says Retirement of Sankaran Not the Result of Any Disagreements
An Albertsons store in Texas. (Shelby Tauber/Bloomberg News)
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Both top U.S. grocery operators are moving on from their respective CEOs only months after a proposed deal to combine their operations was blocked by a federal judge.
Albertsons Cos., the second-largest U.S. grocery operator, said in a statement that Chief Operations Officer Susan Morris, 56, will lead the company after CEO Vivek Sankaran, 62, retires, effective May 1. Morris, who has spent nearly 40 years at the company, has been in her role since 2018.
Morris was previously slated to take over as CEO of nearly 600 stores that Albertsons and Kroger had agreed to divest to C&S Wholesale Grocers as part of the company’s proposed $24.6 billion deal.
Sankaran, who joined Albertsons from PepsiCo Inc. in 2019, took the grocer public during the pandemic. Under his management, the company has focused on centralizing purchasing by divisions, remodeling stores and investing in e-commerce. He notified the board last week of his decision to retire, according to a filing. His decision is not a result of any disagreement with the company on matters regarding its operations, policies or practices, the company said.
Albertsons also reaffirmed its outlook for fiscal 2024.
Kroger, the largest U.S. grocery company, said earlier March 3 that CEO Rodney McMullen stepped down due to personal conduct.
Transport Topics Top 100 Rankings
- Albertsons: No. 42 on the Transport Topics Top 100 list of the largest private carriers in North America; No. 5 on the grocery carriers list
- Kroger: No. 26 on the private 100; No. 3 on the grocery
