The Kroger CFO Leaves Amid Uncertainty Over The Albertsons Merger

(CTN News) – In a statement released on Feb. 5, Kroger Co. said that its chief financial officer is leaving the company to join another company while the supermarket operator waits for regulators’ ruling on its proposed merger with Albertsons Cos.

Gary Millerchip, who began working for Kroger in 2008, was named CFO for the company in 2019, according to the company. A spokesperson declined to elaborate on the matter.

In a statement issued by the Cincinnati-based company, Todd Foley, corporate controller and chief accounting officer, announced that he would serve as interim CFO until a permanent successor was identified.

In late 2022, Kroger agreed to acquire Albertsons for a value of around $24.6 billion to be able to compete more effectively with competitors like Walmart.

Despite the opposition of elected officials and unions to the proposed merger, the Federal Trade Commission has been reviewing the merger as part of its investigation.

According to an internal company memo seen by Bloomberg News, Kroger told employees on Feb. 5 that Yael Cosset, the company’s chief information officer, would oversee the grocer’s integration planning with Albertsons, according to a memo seen by News.

In her position as Kroger’s head of digital and technology, Cosset has also led the company’s data business in the past.

As reported by Transport Topics, Kroger is ranked No. 38 on the Top 100 Private Carriers list this year, while Albertsons is ranked No. 40 on the same list.

What brands are owned by Kroger?

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