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Albertsons hires Best Buy exec credited with leading retailer’s turnaround

Albertsons announced it hired a new president and chief financial officer. This announcement comes on the heels of longtime CFO Bob Dimond’s retirement from the company.

His replacement will be Sharon McCollamwho retired from Best Buy in 2016 where she served as Executive Vice President, Chief Administrative, and Chief Financial Officer.

She is most commonly known for her impact on Best Buy’s Renew Blue turnaround in 2012. Before that, she alsoled a massive turnaround as CFO at Williams-Sonoma.

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“In addition to her proven financial leadership, McCollam brings broad retail and omni-channel operational expertise that will help accelerate the achievement of the Company’s goals,” the company noted in a news release.

McCollam will start in September and will report to Vivek Sankaran, Albertsons Cos. Chief Executive Officer.

“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 omni-channel solutions.”

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Meanwhile, Bob Dimond, who was with Albertsons for more than 33 years, will continue as an advisor through February 2022.

“He has established a strong foundation for our finance team and was extremely instrumental in our IPO,” Sankaran said of Dimond’s retirement. “Bob helped us deliver consistent financial results, improve our balance sheet, and elevate the level of investment in our business.”

Albertsons worked to infuse technology and new initiatives to the company in recent years under Sankaran. It announced strong results in its most recent quarter.

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Anna Daly - BoiseDev Reporterhttps://boisedev.com/author/annadaly/
Anna Daly is a reporter for BoiseDev. She's an Emmy-winning journalist, and a professor at the College of Western Idaho. Contact her at [email protected].

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