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Indian American CEO of Albertsons Vivek Sankaran to retire
He joined the company in 2019 after serving as CEO of PepsiCo Foods North America.
Albertsons CEO Vivek Sankaran testifies about the proposed massive grocery store merger with Kroger at a Senate Judiciary Committee Competition Policy, Antitrust, and Consumer Rights Subcommittee hearing on Capitol Hill in Washington, U.S. November 29, 2022. / REUTERS/Jonathan Ernst/File photo
Albertsons said on March 4 that its CEO Vivek Sankaran would be retiring and insider Susan Morris would assume the role, effective May 1.
Morris, who has been working with the company since 2018, would also join the board of directors, replacing Sankaran.
Indian American Sankaran joined the company in 2019 after serving as CEO of PepsiCo Foods North America. Before joining PepsiCo in 2009, he was a partner at McKinsey and Company, where he served various Fortune 100 companies bringing a strong focus on strategy and operations. He co-led the firm’s North American purchasing and supply management practice and was on the leadership team of the North American retail practice.
“It has been a privilege to lead Albertsons Cos. through a critical period of evolution and I couldn’t be more confident in the Company’s future with Susan at the helm,” Sankaran said. “Susan embodies the best of Albertsons Cos.’ culture, with a strong track record of leading and building high performance teams. I have no doubt in her ability to usher in a new phase of growth and improve our value proposition with customers and the communities where we operate.”
Jim Donald, Chair of the Albertsons Cos. Board of Directors, said, “On behalf of the Board, we are grateful for Vivek’s exceptional leadership over the past six years, successfully managing Albertsons Cos.’ response to the COVID-19 pandemic and navigating the Company through challenging industry dynamics. During the past two years, he led continued investment in the business and drove our Customers for Life strategy, positioning Albertsons Cos. on strong financial footing for its next chapter of growth. We are grateful for his continued commitment to the Company during this transition period and his mentorship of and collaboration with Susan.”
Vivek has an MBA from the University of Michigan, a master's degree in manufacturing from Georgia Institute of Technology and a bachelor's degree in mechanical engineering from the Indian Institute of Technology Madras.
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