Amidst last month’s news of a major executive move at Albertsons, the company’s Chief Administrative Officer Justin Dye left the company without fanfare.
“It was tough to say goodbye,“ Mr. Dye said in an interview reported on by the Wall Street Journal. “I care deeply about the people and the company.”
Dye, the Wall Street Journal noted, was viewed by some as a potential successor to CEO Bob Miller; he left the company only five days before Wayne Denningham, the company’s erstwhile EVP and COO, was promoted to President—potentially positioning Denningham to succeed Miller as the Chief Executive of Albertsons.
Dye and the company reportedly parted on amenable terms, and the executive is currently spending time with his family, though he noted, he may seek another job as an executive or at a private equity firm in the future.
The journal also noted that Albertsons' recent moves help to shed some light on the company’s succession plan—a topic of speculation in the industry. According to the news outlet’s sources, Miller, now 73 years old, has no plans to retire in the works, but Denningham’s new role positions him as a likely candidate when Miller and the company inevitably part ways.
Albertsons is entering its 11th year under ownership from Cerberus Capital Management. The private equity giant took control of the company in 2006, bringing Miller onboard to articulate the company’s vision for growth.
In the past month, Albertsons has been making headlines for its ostensible interest in acquiring Whole Foods and its subsidiary Jewel-Osco’s plans to acquire 19 Strack & Van Til locations from Central Grocers.
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