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BOISE, Idaho - Albertsons Companies, Inc. (NYSE:ACI), a prominent player in the Consumer Staples sector with annual revenue of $81 billion and a market capitalization of $10.3 billion, announced Wednesday that Jim Donald has retired from his position as Chair of the Board and as a board member. According to InvestingPro analysis, the company is currently trading near its Fair Value. Kim Fennebresque, who has served as an independent director since 2015, has been elected as the new Chair.
The grocery retailer also appointed David Zinsner, Executive Vice President and Chief Financial Officer of Intel Corporation, to join the board as an independent director. Additionally, board member Allen Gibson has retired. InvestingPro data shows management’s commitment to shareholder value, with aggressive share buybacks complementing the company’s 3.25% dividend yield.
Fennebresque, who currently chairs the Compensation Committee and serves on the Audit Committee, also holds leadership positions at BAWAG P.S.K., Ally Financial, and BlueLinx Holdings.
Zinsner brings over 25 years of financial and operational experience from the technology sector. Since 2022, he has led Intel’s global finance organization, including accounting, reporting, tax, and investor relations functions.
"With technological and digital improvements grounding our Customers for Life strategy, 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.
Susan Morris, CEO of Albertsons Companies, expressed gratitude to the departing board members and welcomed the new appointments, noting that Zinsner’s experience with technology transformation will help advance the company’s customer strategy.
Albertsons Companies operates 2,264 retail stores across 35 states and the District of Columbia under various banners including Albertsons, Safeway, Vons, and Jewel-Osco.
The information in this article is based on a press release from Albertsons Companies.
In other recent news, Albertsons Companies reported its Q1 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.55, which aligned with analysts’ expectations. The company’s revenue slightly exceeded forecasts, reaching $24.88 billion compared to the anticipated $24.68 billion. In another development, UBS upgraded Albertsons’ stock from Neutral to Buy, citing growth in its pharmacy and digital sectors, and increased its price target to $27.00 from $22.00. UBS’s earnings per share estimates for Albertsons are 4% above the FactSet consensus for fiscal year 2026 and 8% higher for fiscal year 2027. Additionally, JPMorgan has assumed coverage of Albertsons with an Overweight rating, setting a price target of $27.00, down from a previous target of $29.00. The bank suggests that Albertsons has the potential to enhance its sales and earnings growth after a period of distraction during the Kroger acquisition process. Furthermore, Albertsons shareholders approved all board nominees and key proposals at the company’s 2025 annual meeting. The elected directors will serve until the 2026 annual meeting, ensuring continuity in leadership.
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