Boise, ID, 2014-2-25 — /EPR Retail News/ — AB Acquisition LLC (Albertsons), which operates Albertson's LLC and New Albertson's Inc., today announced that Rick Navarro, who had been the Company's Chief Financial Officer since its inception in 2006, has been appointed Chief Administrative Officer. Succeeding Navarro as the company's CFO is Robert B. Dimond.
"Our decentralized operating structure requires executives with entrepreneurial mindsets, and the work that Rick and Bob have done in their careers exemplify that trait," said Bob Miller, CEO of Albertsons. "Our leadership teams at Albertson's LLC and New Albertson's Inc. have done a phenomenal job positioning our stores for the future, and both Rick and Bob are capable executives who will help our company to capitalize on that as we look to grow for the future."
As CFO, Navarro oversaw all aspects of the Company's financial management, including treasury, accounting and controls, financial planning and analysis, inventory control, payroll, and tax. He was integral to the formation of the Company in its earliest stages and the creation and implementation of its rigorous operations review processes that have been one of the hallmarks of the Company's success. In his new role, Navarro will oversee the Information Technology, Legal, Business Development, Human Resources and Public Affairs functions.
Dimond brings 24 years of financial and senior executive management experience in the grocery and distribution industry. Dimond most recently served as Executive Vice President, CFO and Treasurer at Nash Finch, a food distribution and retail company with $5.0 billion in annual revenues. In that role, Dimond was responsible for all of the Company's financial functions, and he also served as the primary contact for all investor relations, investment and commercial banking activities.
Prior to Nash Finch, Dimond was with Wild Oats Markets as Chief Financial Officer and Senior Vice President from April 2005 to December 2006, and he also served as Group Vice President and Chief Financial Officer for the western region of The Kroger Co. (NYSE:KR), as well as Vice President, Administration and Controller for Smith's Food and Drug Centers. Dimond earned his Bachelor of Science degree in accounting from the University of Utah and is a Certified Public Accountant.
Established in 2006, AB Acquisition LLC ("Albertsons"), which operates Acme, Albertsons, Jewel-Osco, Shaws & Star Market stores, is working to become the favorite food and drug retailer in every market it serves. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation, and operates 1,075 stores and 14 distribution centers in twenty nine states and employs approximately 115,000 associates. For more information, please visit www.Albertsons.com. ###