Albertsons said its CEO Vivek Sankaran will retire and insider Susan Morris would assume the top role, as the supermarket chain shifts focus to build its digital sales and retail media business.
Sankaran, who took over the helm in 2019, led the company through its scuttled merger with Kroger.
Morris, who has held the role of Albertsons' chief operations officer since 2018, will take over the new role on 1 May. She will also replace Sankaran on the company's board.
The succession plan comes at a time when Albertsons is trying to move on from its two-year-long efforts to merge with rival Kroger.
Earlier on Monday, Kroger announced the appointment of Ronald Sargent as interim chief executive officer, following the resignation of Rodney McMullen.
McMullen had staunchly defended the combination with Albertsons as a way to fight higher prices and better compete with Walmart and Costco.
Ramping Up Investments
As part of its strategy to move beyond the terminated merger, Albertsons is ramping up investments to boost digital sales and a fast-growing and profitable advertising business to fend off competition from larger retailers.
It also plans to generate $1.5 billion in savings over the next three years.
The supermarket chain said Morris will take over the execution of its 'Customers for Life' strategy, through which it aims to retain customers through loyalty offerings and personalised digital experience.
Jim Donald, chair of the Albertsons Cos. board of directors, said, “The board is confident that Susan is the ideal person to lead the company into its next chapter of growth. 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.
“She is highly respected across the organisation and industry, with a strong track record of operational success and passion for serving our customers and communities.”
