– USA, ID – Albertsons Companies, Inc. (NYSE: ACI) announced the election of Jim Donald as the sole independent Chair effective October 24, 2024, and the appointment of Stephen Feinberg to its Board of Directors designated by Cerberus Capital Management, L.P.
Vivek Sankaran, CEO said, “Jim will continue to provide strong leadership as Chair of the Board. I am excited to welcome Steve to the Board, and I thank Chan for his significant contributions.”
About Stephen Feinberg
Stephen Feinberg is the co-CEO of CCM, which is an investment adviser registered with the SEC under the Investment Advisers Act of 1940. Cerberus has approximately $66 billion of assets under management for investment funds, managed accounts, and other investment entities in a wide variety of asset classes, including private credit, private equity, real estate, and various other types of investments. Mr. Feinberg has led Cerberus since co-founding it in 1992.
“During the nearly two decades that Cerberus has been invested in Albertsons, the Company has achieved tremendous growth and major milestones to become a nationally strong business and leader in its communities,” said Stephen Feinberg. “I want to specifically thank Chan for his tireless work and dedication to the Company on behalf of all stakeholders, and Chan has been a great partner to the Company. I am excited to continue that partnership. I look forward to working with my colleagues on the Board and supporting Vivek, his management team, and the Company as it continues to innovate in the dynamic grocery industry and deliver quality and affordable choices to customers across the United States.”
About Albertsons Companies
Albertsons Companies is a leading food and drug retailer in the United States. As of September 7, 2024, the Company operated 2,267 retail food and drug stores with 1,726 pharmacies, 405 associated fuel centers, 22 dedicated distribution centers, and 19 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia under more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci’s Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2023, along with the Albertsons Companies Foundation, the Company contributed more than $350 million in food and financial support, including more than $35 million through our Nourishing Neighbors Program to ensure those living in our communities and those impacted by disasters have enough to eat.
For more: https://www.albertsonscompanies.com/
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