Why Albertsons promoted a new president
- Albertsons Cos. promoted Wayne Denningham as its new president and COO, according to the Shelby Report. Bob Miller will remain as chairman and CEO.
- Denningham, who had served as the company’s EVP and COO, will lead store operations with added oversight of marketing and merchandising, supply chain, manufacturing and integration.
- Albertsons new president originally joined the company in 2006 to lead its Rocky Mountain division.
The change in leadership at Albertsons comes at a time when rumors continue to swirl that the company will acquire Sprouts and establish a stronger foothold in organics, which has not been a major focus for the retail chain up until now.
A move like this would also enable the grocer to make more inroads into Kroger, which invested in Sprouts’ rival Lucy’s Market last year.
The company is also considering going public. Investors might be more interested with Denningham as president, as he has a reputation for integrating acquisitions and turning struggling units around.
Over the last decade, Denningham has been responsible for leading three different divisions at Albertsons. He also helped negotiate and manage some of its most significant acquisitions, including Safeway.
- The Shelby Report Albertsons Cos. Gets New President
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