NewsAlbertsons expands board to 15 members with Levi Strauss executive Harmit Singh
Albertsons just added its fifth new board member since September. Harmit Singh from Levi Strauss joins a growing fifteen person team. The supermarket chain is reviewing its entire business to fix falling profits.
Supermarket giant Albertsons just added Harmit Singh, chief financial and growth officer of Levi Strauss & Co., to its board of directors in a move that expands the board from 10 members to 15 since early September, according to Yahoo Finance. Singh joins the grocery chain just days after Albertsons announced a full strategic review to turn around its sagging financial performance. Singh plans to retire from Levi Strauss on Nov. 30 after leading its finance division, transformation office, and global retail footprint expansion, and he previously served as chief financial officer at Hyatt Hotels Corporation and Yum! Restaurants International. Albertsons CEO Susan Morris said in a statement that his track record of accelerating growth and scaling store networks will bring valuable perspective as the company works to create value. The board expansion began in September when Albertsons named former tech executive Meg Whitman as executive chair, followed later in the month by the addition of Bill Boltz from Lowe's Companies, Chris Drumgoole from Aligned Data Centers, and Meg Ham, the former president of Food Lion. Whitman noted that strengthening the board with leaders from complex, consumer-facing companies is a critical asset for their next phase of growth. For store operators and grocery shoppers, heavy boardroom reshuffling often signals upcoming shifts in pricing, real estate, and supply chains. Keep an eye on your supplier terms and local store layouts if you do business with the retail giant.