Albertsons Announces Executive and Director Changes

TL;DR

Albertsons shakes up board and execs, new director Susan McCreight in, Bob Miller out.

AI Summary

Albertsons Companies, Inc. announced on October 22, 2024, changes in its executive team and board of directors. Specifically, the company reported the departure of Director Robert Miller and the election of new Director Susan McCreight. Additionally, the company disclosed compensatory arrangements for certain officers.

Why It Matters

Changes in a company's board and executive leadership can signal shifts in strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — The filing details routine corporate governance changes and compensatory arrangements, which typically carry low inherent risk.

Key Players & Entities

• Albertsons Companies, Inc. (company) — Registrant
• Robert Miller (person) — Departing Director
• Susan McCreight (person) — Newly Elected Director
• October 22, 2024 (date) — Date of earliest event reported

FAQ

From the Filing

0001646972-24-000229.txt : 20241028 0001646972-24-000229.hdr.sgml : 20241028 20241028161523 ACCESSION NUMBER: 0001646972-24-000229 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20241022 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20241028 DATE AS OF CHANGE: 20241028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Albertsons Companies, Inc. CENTRAL INDEX KEY: 0001646972 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0222 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39350 FILM NUMBER: 241401086 BUSINESS ADDRESS: STREET 1: 250 PARKCENTER BLVD. CITY: BOISE STATE: ID ZIP: 83706 BUSINESS PHONE: 208-395-6200 MAIL ADDRESS: STREET 1: 250 PARKCENTER BLVD. CITY: BOISE STATE: ID ZIP: 83706 8-K 1 aci-20241022.htm 8-K aci-20241022 0001646972 False 0001646972 2024-10-22 2024-10-22 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 22, 2024   Albertsons Companies, Inc. (Exact Name of Registrant as Specified in Charter)   Delaware 001-39350 47-4376911 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)   250 Parkcenter Blvd. Boise , Idaho 83706 (Address of principal executive office and zip code) ( 208 ) 395-6200 (Registrant’s telephone number, including area code) Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, $0.01 par value ACI New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 22, 2024, Mr. Chan Galbato resigned from the Board of Directors (the "Board") of Albertsons Companies, Inc. (the "Company") including the Finance Committee of the Board. His resignation was not the result of any disagreement between Mr. Galbato and the Company, its management, the Board, or any committee thereof, or with respect to any matter relating to the Company's operations, policies, or practices. Mr. Galbato served on the Board from 2021 and was designated to the Board by certain affiliates of Cerberus Capital Management, L.P. ("CCM" and, along with its affiliates, "Cerberus") pursuant to the director designation right set forth in Section 2.01