Exec Updates: Albertsons, Starbucks

Here are c-suite updates from a pair of food retailers:

Albertsons Cos Inc. (Boise, Idaho) has unveiled its CEO succession plan under which Susan Morris, EVP and COO, will assume the role of CEO following the planned retirement of Vivek Sankaran, effective May 1. During the transition, the two will work together on the ongoing execution of the grocer’s “Customers for Life” strategy, and on the effective date, Morris will join the Albertsons board, replacing Sankaran.

“With a nearly 40-year career at the company that began at an Albertsons store in the Denver market, Susan brings unmatched expertise and deep knowledge of the business,” board chair Jim Donald said in a news release. “She is highly respected across the organization and industry, with a strong track record of operational success and passion for serving our customers and communities.”

The announcement of the plan came hours after Kroger Co. (Cincinnati) announced its CEO had resigned for violating that company’s ethics policy. That executive, Rodney McMullen, would have become Chairman and CEO of a combined Kroger/Albertsons, but that proposed deal ultimately fell apart.

Starbucks (Seattle) announced that CFO Rachel Ruggeri is leaving after nearly 20 years at the company and will be replaced by Nordstrom CFO Cathy Smith. That announcement was made in an all-hands message to Starbucks workers from Chairman and CEO Brian Niccol.

“Cathy brings incredible knowledge and extensive experience in retail, global operations and turnaround success,” wrote Niccol, who became Starbucks’ Chairman and CEO last September. “She’s held CFO roles at Nordstrom, Target, and Walmart International. She’s a great person and a great leader. I’m excited to partner with her as we continue our work on the ‘Back to Starbucks’ plan. Cathy will start in the next month.”