BOISE, ID - This morning, Albertsons companies announced a new President and CEO; effective April 25, 2019, Vivek Sankaran, current Chief Executive Officer, PepsiCo Foods North America, will assume both roles.
Albertsons’ current President and CEO Jim Donald will continue as Co-Chairman of the Board alongside Leonard Laufer. The company’s longtime leader Robert Miller has been named Chairman Emeritus and will continue to serve as a member of the Board of Directors.
“It is a great privilege to join a company that has such deep roots in American retail,” said Sankaran, in a press release. “Albertsons, Safeway, Vons, Jewel Osco, Shaw's, ACME, Tom Thumb, Randall’s, United Supermarkets, Market Street, Pavilions, Star Market, Haggen, and Carrs—all of these banners and more in the Albertsons Companies family of stores have hundreds of years of combined history. Our stores are integral to the lives of millions of customers each week. I’m excited to build on the legacies of past CEOs Bob Miller and Jim Donald who both laid a solid foundation for success and look forward to working with our associates to realize the opportunities and navigate the challenges in our evolving industry.”
According to Albertsons’ press release, Sankaran has served as CEO of PepsiCo Foods North America since December 2018. Prior to that, Sankaran served as the company's President and COO, a position he was named to in 2016.
Before joining PepsiCo in 2009, Sankaran was a partner at McKinsey and Company, where he served various Fortune 100 companies, bringing a strong focus on strategy and operations. Sankaran holds an MBA from the University of Michigan, a master's degree in manufacturing from the Georgia Institute of Technology, and a bachelor's degree in mechanical engineering from the Indian Institute of Technology in Chennai.
“Vivek brings a rare blend of CPG, retail, manufacturing, logistics, technology, and research and development to Albertsons Companies, all of which are key components to being a successful retailer in an Omni Channel-driven environment,” said outgoing President and CEO Jim Donald. “Moreover, Vivek has the keen understanding that the front line is directly linked to the bottom line, and I'm confident he will inspire and engage our 270,000 associates across our stores, support offices, manufacturing facilities, and distribution centers.”
Robert Miller echoed those sentiments, expressing confidence in Sankaran’s abilities and Albertsons’ future.
“I’ve known Vivek for many years. He has always impressed me, not only with his exceptional work at Frito-Lay in managing the many facets of a multibillion-dollar food business, but also with his ability to work with and develop people,” said Miller. “I couldn’t be happier to leave Albertsons Companies in Vivek’s hands.”
Donald also added, “When I joined Albertsons Companies in 2018, I found a company that had a strong decentralized operating model, a fantastic leadership team, and incredible potential to be the four-walls and no-walls leader in the grocery industry. Over the past year, our team made our company’s nearly 2,300 stores even stronger as we sharpened our focus on the intersection of technology and service. I’m looking forward to the continued progress of the company under the seasoned leadership of Vivek. We continue to be well-positioned to serve the evolving needs of today’s customer, where, how, and when they choose to shop with us.”
Albertsons’ press release noted that Laufer, who was appointed to the Albertsons Companies Board of Directors in October 2018 and is now Board Co-Chairman alongside Jim Donald, is a Senior Managing Director and Head of Transformation and Technology for Cerberus Capital Management and the leader of Cerberus Technology Solutions. Prior to joining Cerberus, Laufer had launched and was the head of JPMorgan Intelligent Solutions, a unit of JPMorgan Chase & Co. Before that, Laufer cofounded and was CEO of Argus Information and Advisory Services, which was sold in 2012 to Verisk Analytics. He’s a is a graduate of Harvard University, and he received an MBA from the Wharton School of Business, University of Pennsylvania.
What does the future hold for Albertsons under its new leadership? AndNowUKnow will continue to report with more on the dynamic retailer.
