Albertsons has a new CEO
Albertsons Companies has named Vivek Sankaran as its next president and CEO, effective April 25.
Jim Donald, currently the company’s president and CEO since September, will continue as co-chairman of the board, with Leonard Laufer serving as the other co-chairman. The company’s longtime leader Robert Miller has been named chairman emeritus and will continue to serve as a member of the board of directors.
“It is a great privilege to join a company that has such deep roots in American retail,” Sankaran said. “Albertsons, Safeway, Vons, Jewel Osco, Shaw's, ACME, Tom Thumb, Randall’s, United Supermarkets, Market Street, Pavilions, Star Market, Haggen and Carrs – all of these banners and more in the Albertsons Companies family of stores have hundreds of years of combined history. Our stores are integral to the lives of millions of customers each week. I’m excited to build on the legacies of past CEOs Bob Miller and Jim Donald who both laid a solid foundation for success, and look forward to working with our associates to realize the opportunities and navigate the challenges in our evolving industry.”
Sankaran was named CEO of PepsiCo Foods North America in December 2018. Prior to that, he served as the company's president and chief operating officer, a position he was named to in 2016. Over the last 3 years, he has led Frito Lay to industry-leading growth by remaining focused on innovation, technology and execution. Over his ten-year career at PepsiCo, in addition to leading Frito-Lay, Sankaran also served as the chief commercial officer for PepsiCo North America, chief customer officer of Frito Lay, and as the SVP of strategy for PepsiCo.
Before joining PepsiCo in 2009, Sankaran was a partner at McKinsey and Company, where he served various Fortune 100 companies, bringing a strong focus on strategy and operations.
Sankaran has an MBA from the University of Michigan, a master's degree in manufacturing from the Georgia Institute of Technology and a bachelor's degree in mechanical engineering from the Indian Institute of Technology in Chennai.
Albertsons Companies is one of the largest food and drug retailers in the United States, with 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs, as well as meal kit company Plated based in New York City.
The company's private brands achieved a record 25 percent penetration rate in the company’s 2018 fiscal second quarter.