Albertsons Welcomes Susan Morris as New Chief Executive Officer
Albertsons Companies, Inc. Announces New Leadership
Albertsons Companies, Inc. (NYSE: ACI) is embarking on a new chapter with the appointment of Susan Morris as its new Chief Executive Officer, taking over from Vivek Sankaran, who plans to retire. Morris, currently the Executive Vice President and Chief Operations Officer, is expected to bring a wealth of experience to her new role.
A Seasoned Veteran Takes the Helm
Susan Morris has an impressive background in the grocery retail sector, boasting nearly 40 years of experience. Her journey with Albertsons began in Denver, where she worked her way through various leadership positions. Most recently, she has helped oversee retail operations across more than 2,200 locations in 34 states, showcasing her capability and commitment to the company.
Respected Leader in the Industry
Jim Donald, Chair of the Board of Directors at Albertsons, spoke highly of Morris, stating, “She is highly respected across the organization and industry, with a strong track record in operational excellence and a genuine passion for our customers.” This praise reflects her long-standing dedication to the company and the communities it serves.
Financial Outlook and Growth Projections
In conjunction with announcing the leadership transition, Albertsons has reaffirmed its optimistic financial outlook for the upcoming fiscal year. The company forecasts identical sales growth between 1.8% and 2.0%, indicating confidence in its ongoing business strategy. Adjusted EBITDA is projected to be between $3.95 billion and $3.99 billion, providing a positive signal about its financial health.
Promising Earnings Expectations
For the Class A shares, the anticipated adjusted net income is expected to range from $2.25 to $2.31, closely aligning with market consensus estimates. Furthermore, capital expenditures are anticipated to fall between $1.8 billion and $1.9 billion, reinforcing the company’s commitment to growth and investment. The planned effective income tax rate also stands at a competitive rate of 15% to 16%.
Stock Performance and Market Response
In terms of stock performance, shares of ACI closed at $20.69, reflecting a decrease of 1.66% on the last trading day. Such fluctuations are typical as the market reacts to leadership changes, but the long-term outlook remains strong with Morris at the helm.
Sustaining Growth Amid Changes
As the new CEO, Morris faces the vital task of guiding Albertsons through this transition while ensuring that growth continues. With her extensive background and industry respect, she is well-positioned to navigate future challenges and seize new opportunities that align with customer needs and market trends.
Frequently Asked Questions
Who has been appointed as the new CEO of Albertsons?
Susan Morris has been named the new Chief Executive Officer of Albertsons Companies, Inc.
What role did Susan Morris hold before becoming CEO?
Before her appointment as CEO, Susan Morris served as the Executive Vice President and Chief Operations Officer at Albertsons.
What sales growth does Albertsons anticipate for the upcoming year?
Albertsons expects identical sales growth to be between 1.8% and 2.0% for the upcoming fiscal year.
What is the projected adjusted EBITDA for Albertsons?
The company has forecasted an adjusted EBITDA between $3.95 billion and $3.99 billion.
How did ACI shares perform recently?
ACI shares closed at $20.69, down by 1.66% in the most recent trading session.
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