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BOISE, Idaho—Susan Morris will take over as chief executive officer of Albertsons Companies Inc. on May 1, taking the reins at the supermarket company following the planned retirement of current CEO Vivek Sankaran. Morris will also join the company’s board of directors on that date.
Jim Donald, chair of Albertsons’ board of directors, said in a statement on Monday that the succession was the result of a lengthy and deliberative process.
“Over the past several years, the board has engaged in a thoughtful and comprehensive succession planning process to identify Albertsons’ next CEO, including evaluating internal and external candidates," Donald said. "The board is confident that Susan is the ideal person to lead the company into its next chapter of growth.”
Morris, who has been with Albertsons for nearly 40 years, currently serves as Executive Vice President and Chief Operations Officer. She oversees the company’s more than 2,200 stores in 34 states. Morris began her career at an Albertsons store in the Denver market and has since held leadership roles in merchandising, operations, and regional management.
“At a time of profound change for the grocery industry, I am honored to be appointed as the next CEO of Albertsons,” said Morris. “I look forward to continuing our Customers for Life strategy and driving growth alongside our talented team.”
Sankaran, who has led Albertsons since 2019, expressed confidence in Morris’ leadership.
“Susan embodies the best of Albertsons’ culture, with a strong track record of building high-performance teams," he said. "I have no doubt she will lead the company into a successful new phase.”
In addition to the leadership transition, Albertsons reaffirmed its fiscal 2024 outlook, projecting identical sales growth of 1.8% to 2.0% and adjusted EBITDA between $3.95 billion and $3.99 billion. Capital expenditures are expected to range between $1.8 billion and $1.9 billion, with an adjusted net income per share between $2.25 and $2.31.
