Albertsons Companies, Inc. Announces Changes to Board of Directors
Jim Donald Elected as Independent Chair of the Board
Stephen Feinberg Appointed as a Member of the Board
Chan Galbato Steps Down from the Board
Also, effective
“During the nearly two decades that Cerberus has been invested in Albertsons, the Company has achieved tremendous growth and major milestones to become a nationally strong business and leader in its communities,” Feinberg said. “I want to specifically thank Chan for his tireless work and dedication to the Company on behalf of all stakeholders, and Chan has been a great partner to the Company. I am excited to continue that partnership. I look forward to working with my colleagues on the Board and supporting Vivek, his management team, and the Company as it continues to innovate in the dynamic grocery industry and deliver quality and affordable choices to customers across the United States.”
Feinberg added: “Cerberus initially invested in Albertsons in 2006, with additional investments in 2013 and 2015 to support significant and strategic value creation opportunities. As a long-term investor in and partner to Albertsons across multiple investments, Cerberus is proud of Albertsons’ performance, and it will continue to be a strong supporter of the Company, its talented leadership team, and its dedicated associates.”
“As a stockholder in the Company, Cerberus reiterates its support for the proposed merger with The Kroger Company based on the compelling value proposition for all stakeholders, including the companies’ customers, associates, communities served by their stores, and investors,” Feinberg said. “I am excited to have joined the Board to continue driving value for all stockholders and other stakeholders.”
Forward-Looking Statements and Factors That Impact Our Operating Results and Trends
This press release includes "forward-looking statements" within the meaning of the federal securities laws. The "forward-looking statements" include our current expectations, assumptions, estimates and projections about our business and our industry. You can identify forward-looking statements by the use of words such as "outlook," "may," "should," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future" and "intends" and similar expressions which are intended to identify forward-looking statements. The forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties which are beyond our control and difficult to predict and could cause actual results to differ materially from the results expressed or implied by the statements. Certain potential factors that could affect our business and cause actual results to differ materially from those expressed or implied in any forward-looking statements are described in the “Risk Factors” section or other sections in our Annual Report on Form 10-K filed with the
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