Strategic Leadership Change at Albertsons
Albertsons Companies Inc. has announced a major leadership transition, naming Susan Morris as its next Chief Executive Officer. Currently serving as Executive Vice President and Chief Operating Officer, Morris will officially step into her new role following the planned retirement of CEO Vivek Sankaran on May 1. During the transition period, she will work alongside Sankaran to ensure a smooth handover and continue executing the company’s “Customers for Life” strategy. Additionally, Morris will join Albertsons’ board of directors, succeeding Sankaran in that capacity as well.
Board Chair Jim Donald emphasized the extensive and deliberate succession-planning process undertaken by the company, which considered both internal and external candidates. He expressed confidence in Morris’s ability to lead Albertsons into its next phase of growth, citing her deep industry expertise and nearly 40-year tenure with the company. Morris’s career at Albertsons began in a Denver-based store, and she has since climbed the ranks through various leadership roles. Her extensive experience in operations and merchandising, along with her dedication to customer service and community engagement, positioned her as the ideal candidate to steer the company forward.
Recognizing Sankaran’s Leadership and Susan Morris Qualifications
As Albertsons prepares for this leadership change, the board has acknowledged the contributions of outgoing CEO Vivek Sankaran. Donald credited Sankaran for his strategic direction over the past six years, particularly his leadership in navigating the company through the COVID-19 pandemic and other industry challenges. Under Sankaran’s tenure, Albertsons made significant business investments and strengthened its financial position, reinforcing its long-term sustainability.
Sankaran expressed confidence in Susan Morris, highlighting her ability to build and lead high-performance teams while maintaining the company’s core values. He believes she will drive continued growth and enhance Albertsons’ value for both customers and the communities it serves. Morris’ proven track record in executive roles, including EVP of regional operations and division president, further supports her ability to take on this responsibility. She currently oversees more than 2,200 stores across 34 states, making her one of the most experienced leaders in the retail grocery sector.
Beyond her work at Albertsons, Susan Morris serves on the boards of IDACORP Inc. and FMI – The Food Industry Association. She has also received industry accolades, including a Trailblazer Award and recognition as a Top Woman in Grocery.
Albertsons’ Financial Outlook and Market Position
Amid this leadership shift, Albertsons Companies has reaffirmed its fiscal 2024 outlook, initially shared in its third-quarter earnings report. The company projects identical sales growth between 1.8% and 2.0%, adjusted EBITDA between $3.95 billion and $3.99 billion, and adjusted net income per Class A common share ranging from $2.25 to $2.31. Additionally, it anticipates capital expenditures of $1.8 billion to $1.9 billion, with an effective income tax rate between 15% and 16%.
As of November 30, 2024, Albertsons operated 2,273 retail food and drug stores, 1,732 pharmacies, 405 fuel centers, 22 dedicated distribution centers, and 19 manufacturing facilities. The Boise, Idaho-based company continues to maintain a strong presence across 34 states and the District of Columbia, operating under more than 20 well-known retail banners. Ranked No. 9 on a publication and a media platform’s 2024 list of top food and consumables retailers in North America, Albertsons remains a key player in the industry as it embarks on this new chapter of leadership under Morris’s guidance.
