Albertsons Names Susan Morris Its Next CEO
Albertsons Cos. Inc. has revealed a CEO succession plan under which Susan Morris, currently EVP and COO, will assume the role of CEO following the planned retirement of Vivek Sankaran on May 1. During the transition period, Morris will work closely with Sankaran to continue carrying out the grocer’s Customers for Life strategy. On the effective date, Morris will also join Albertsons’ board of directors, succeeding Sankaran.
“Over the past several years, the board has engaged in a thoughtful and comprehensive succession-planning process to identify Albertsons Cos.’ next CEO, including evaluating internal and external candidates,” noted Jim Donald, chair of the Albertsons board of directors. “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 organization and industry, with a strong track record of operational success and passion for serving our customers and communities.”
[RELATED: Kroger Chairman and CEO Rodney McMullen Exits After Internal Investigation]
“At a time of profound change for the grocery industry, I am honored to be appointed as the next CEO of Albertsons Cos.,” noted Morris. “I have worked closely with Vivek and the leadership team on our plans to accelerate growth and am confident that we are on the right path with our Customers for Life strategy. I look forward to participating in the fiscal Q4 earnings call, where we will discuss our strategy and provide our fiscal 2025 outlook. Albertsons Cos. has an incredibly bright future and the best team in the business – I am energized about the many opportunities that lie ahead.”
Added Donald: “On behalf of the board, we are grateful for Vivek’s exceptional leadership over the past six years, successfully managing Albertsons Cos.’ response to the COVID-19 pandemic and navigating the company through challenging industry dynamics. During the past two years, he led continued investment in the business and drove our Customers for Life strategy, positioning Albertsons Cos. on strong financial footing for its next chapter of growth. We are grateful for his continued commitment to the company during this transition period and his mentorship of and collaboration with Susan.”
“It has been a privilege to lead Albertsons Cos. through a critical period of evolution, and I couldn’t be more confident in the company’s future with Susan at the helm,” observed Sankaran. “Susan embodies the best of Albertsons Cos.’ culture, with a strong track record of leading and building high-performance teams. I have no doubt in her ability to usher in a new phase of growth and improve our value proposition with customers and the communities where we operate.”
[RELATED: Albertsons Restructuring Includes Division Consolidation]
Morris has been Albertsons’ EVP and COO since January 2018. In this role, she leads the company’s retail operations, overseeing 2,200-plus stores in 34 states. With nearly 40 years of experience in the retail grocery industry, Morris has held a range of leadership roles at Albertsons, among them EVP of regional operations, division president in two markets, and various other roles in merchandising and operations. She began her retail career at an Albertsons store in the Denver market.
She sits on the boards of directors of IDACORP Inc. and FMI – The Food Industry Association. A graduate of Colorado State University, Morris has been honored on various occasions for her leadership in the grocery industry; these honors include a Trailblazer Award and recognition as a Top Woman in Grocery, both from Progressive Grocer.
Additionally, Albertsons has reaffirmed its fiscal 2024 outlook, as shared with its third-quarter earnings in January: identical sales growth in the range of 1.8% to 2.0%, adjusted EBITDA in the range of $3.95 billion to $3.99 billion, adjusted net income per Class A common share in the range of $2.25 to $2.31 per share, an effective income tax rate in the range of 15% to 16%, and capital expenditures in the range of $1.8 billion to $1.9 billion.
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.
