SN Top 10: Albertsons announces changes to Board of Directors top the week’s headlines

In this week’s recap of the Top 10 most popular Supermarket News articles, Albertsons announces changes to Board of Directors ranked as the week’s top story. Albertsons Companies, Inc., announced that effective Oct. 24, the Board of Directors has elected Jim Donald as the sole independent Chair of the Board.

Also, effective Oct. 24, the board appointed Stephen Feinberg to the board for the term expiring at the company’s 2025 annual meeting of stockholders. Cerberus Capital Management, L.P., designated Feinberg to the board in accordance with the Stockholders Agreement dated June 25, 2020, by and among the company and Cerberus after Chan Galbato stepped down from the board on Oct. 22. Galbato was previously designated to the board in 2021 by Cerberus pursuant to the Stockholders’ Agreement.

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In other news, Walgreens Boots Alliance will lay off 256 workers, corporate roles which are mostly based in Chicago. The move is the latest in a series of layoffs in recent years as the Deerfield, Ill.-based retailer continues to grapple with financial struggles.

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“While decisions like these are always difficult, we believe this action is necessary to position us to rapidly respond to the changing external environment,” said Walgreens spokeswoman Megan Boyd, who added that the move was made “to further our focus on our core retail pharmacy business.”

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