Albertsons Board Member Resigns Following Presidential Appointment
Steve Feinberg has stepped down from the Albertsons Cos. board of directors, effective Feb. 21, following his nomination to become the U.S. Deputy Secretary of Defense. As such, and in accordance with a stockholders agreement from 2020, Frank Bruno has been appointed to fill Feinberg’s position on the board.
Bruno is the co-CEO of Albertsons investor Cerberus Capital Management L.P. Feinberg stepped into the board role last October, following the resignation of Chan Galbato.
“Steve has been a significant contributor to the board, and I thank him for his long-standing support to Albertsons Cos. I also congratulate Steve on his pending appointment to the Department of Defense and his service to our country,” said Albertsons CEO Vivek Sankaran. “In addition, I am excited to welcome Frank to the board as we accelerate our business strategy to earn Customers for Life.”
[RELATED: Albertsons Restructuring Includes Division Consolidation]
“I am delighted to join the board of Albertsons Cos. as the leadership team continues to transform the business in an ever-changing consumer landscape,” said Bruno. “I look forward to supporting the company, its accomplished leadership team and its dedicated associates who steadfastly serve customers and communities each day.”
As of Nov. 30, 2024, Albertsons Cos. operated 2,273 retail food and drug stores with 1,732 pharmacies, 405 associated fuel centers, 22 dedicated distribution centers and 19 manufacturing facilities. The Boise, Idaho-based company operates stores across 34 states and the District of Columbia under more than 20 well-known banners. Albertsons is No. 9 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
