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08/10/2021

Albertsons Appoints New President and CFO

Grocery store chain Albertsons has named Sharon McCollam as its new president and CFO, effective Sept. 7.
Sharon McCollam

McCollam is coming out of retirement to take the role, after she retired in 2016 from Best Buy where she served as executive vice president, chief administrative and CFO. She is known as a retail transformation expert and is credited with Best Buy’s Renew Blue transformation—an industry-leading omnichannel transformation, Progress Grocer reported.

Her appointment comes as Albertsons recently reported impressive quarterly earnings and unveiled a new deal with Uber for grocery delivery at 1,200 stores. For the first fiscal quarter ending June 19, Albertsons reported an earnings dip from the same quarter in 2020, although earnings were higher compared to 2019. 

The grocery retailer also boasts a diverse c-suite, with McCollam joining alongside COO Susan Morris and CMO Jennifer Saenz. McCollam will report directly to CEO Vivek Sankaran.

“I am thrilled to have Sharon join the Albertsons team,” Sankaran said. “We are entering the next phase of our transformation, centered on building deeper relationships with customers through data, technology and connected omnichannel solutions. Sharon has done just this throughout her career, helping to engineer multiple retail transformations, including the spectacular turnaround of Best Buy and the digital transformation at Williams-Sonoma. Sharon is well-known for her expertise in retail operations and digital growth strategies as well as her passion for building customer-centric cultures. I look forward to working closely with her to architect the evolution of our strategy and create value for all of our stakeholders.”

McCollam has also previously held several leadership roles with Williams-Sonoma, including serving as COO and CFO from 2006 to 2012. She has also served on several boards of directors since her retirement from Best Buy.

As CFO of Albertsons, McCollam will oversee finance, corporate strategy, information technology, supply chain operations and property development responsibilities, as well as be involved in the company’s ongoing growth and transformation strategy. 

See the full story at Progressive Grocer.