Albertsons Names New CEO

 A former CEO of Fred Meyer will become the new CEO of Albertsons.

Robert Miller, who was chairman and CEO of Fred Meyer Inc. from 1991 until 1999, when Fred Meyer merged with Cincinnati-based The Kroger Co., will lead Boise-based Albertsons after the company is taken over by Eden Prairie, Minnesota-based Supervalu Inc., CVS Corp. and an investment group led by Cerberus Capital Management, Cerberus Capital said Thursday.

Miller will become CEO of the grocery operations being acquired by the investment group led by Cerberus. The acquisition includes 655 Albertsons stores in Dallas/Fort Worth, Northern California, Florida, the Rocky Mountains and the Southwestern United States. The stores being acquired by the consortium are seen as underperforming assets which could either be turned around or treated as real estate. Cerberus plans to operate stores under the Albertsons name and be based in Boise, Idaho, where Albertsons has its headquarters.

After Kroger took over Fred Meyer, Miller was named vice chairman and chief operating officer of Kroger. Since late 1999 he has been chairman of Rite Aid and was CEO from December 1999 until June 2003. He will continue to hold the chairman position at Rite Aid.

Albertson's operates stores in the Sacramento area. Kroger, the nation's largest grocery store chain, is closing its Ralphs division in the region.