Albertsons CEO Vivek Sankaran to Depart, Operating Chief Morris Named Successor

Albertsons Companies, Inc. (NYSE: ACI) has announced a CEO succession plan, with Susan Morris, the current Executive Vice President and Chief Operations Officer, set to assume the role of CEO following the planned retirement of Vivek Sankaran, effective May 1, 2025. During the transition period, Morris will work closely with Sankaran to continue executing the company's Customers for Life strategy. On the effective date, Morris will join the Albertsons Cos. Board of Directors, replacing Sankaran.

Jim Donald, Chair of the Albertsons Cos. Board of Directors, expressed confidence in Morris' appointment, stating, "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."

Morris, who has served as the Company's Executive Vice President and Chief Operations Officer since January 2018, leads the Company's retail operations, overseeing more than 2,200 stores across 34 states. With nearly 40 years of experience in the retail grocery industry, Morris has held various leadership roles across the Company, including Executive Vice President of Regional Operations, Division President in two markets, and various other roles in merchandising and operations. She serves on the Board of Directors of IDACORP Inc (NYSE: IDA) and the Food Marketing Institute. Morris is a graduate of Colorado State University and has been recognized numerous times for her leadership in the grocery industry.

The company also reaffirmed its Fiscal 2024 Outlook, as shared in the third quarter earnings announcement on January 8, 2025:

* 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
* Effective income tax rate in the range of 15% to 16% (1)
* Capital expenditures in the range of $1.8 billion to $1.9 billion

The Company is unable to provide a full reconciliation of the GAAP and Non-GAAP Measures used in the updated fiscal 2024 outlook without unreasonable effort because it is not possible to predict certain of the adjustment items with a reasonable degree of certainty. This information is dependent upon future events and may be outside of the Company's control and could have a significant impact on its GAAP financial results for fiscal 2024. The expected effective tax rate does not reflect potential future rate adjustments for the resolution of tax audits or potential changes in tax laws, which cannot be predicted with reasonableness.




The announcement of a well-structured CEO succession plan represents a carefully orchestrated leadership transition at one of America's largest grocery retailers. Susan Morris, currently EVP and COO, will replace Vivek Sankaran effective May 1, 2025, providing a substantial transition period suggesting a deliberate, thoughtful approach to this critical change. Morris' nearly 40-year career with Albertsons, progressing from store-level operations to overseeing more than 2,200 locations across 34 states, brings extensive operational experience particularly valuable in the current grocery landscape where execution excellence and operational efficiency are paramount amid inflationary pressures and competitive intensity. The company's simultaneous reaffirmation of its fiscal 2024 guidance provides important stability markers, including identical sales growth, adjusted EBITDA, adjusted net income per Class A common share, effective income tax rate, and capital expenditures. This internal promotion reflects continuity in executing the "Customers for Life" strategy while balancing necessary evolution in a rapidly changing grocery landscape. The extensive transition period provides investors reasonable assurance of stability and knowledge transfer during this change.