Albertsons announced Wednesday that Chair of the Board Jim Donald, who is also a former CEO of the grocery company, has retired. Kim Fennebresque, who has served on Albertsons’ board as an independent director since 2015, has been elected as Donald’s successor.
Donald’s time on Albertsons’ board began in 2019, when he became co-chairman after stepping down as president and CEO of the supermarket chain. In October 2024, he took over as the board’s sole independent chair.
Fennebresque currently serves as the chair of Albertsons’ compensation committee and is a member of the audit committee, according to the announcement. In addition, he is chair of the supervisory board of AWAG P.S.K, one of Austria’s largest banks, sits on the board of Ally Financial and serves as the chair of building products distributor BlueLinx Holdings.
Albertsons also announced other changes to its board, including the appointment of David Zinsner, executive vice president and chief financial officer of Intel Corporation, as an independent director and the retirement of Allen Gibson, who has been on Albertsons’ board since 2018.
“David’s deep expertise in finance, technology and AI will be a tremendous asset as we chart the course for the future,” Fennebresque said in a statement, adding that the company’s ongoing business strategy will center around technological and digital improvements.
The board changes come as Albertsons continues to find its footing after its merger plan with Kroger collapsed at the end of last year. Susan Morris took over as CEO of the company in early May, when Vivek Sankaran’s retirement took effect.
Since the start of this year, Albertsons has undergone a number of internal executive changes, corporate layoffs, shuttering of stores, divisional restructuring and the launch of a new merchandising strategy.
