Albertsons Companies has named former Starbucks executive Jim Donald as its president and CEO.
Donald, who was appointed chief operating officer of Albertsons in March, was promoted Wednesday. He succeeds Robert Miller, the longtime CEO who will retain his role as chairman of the board.
Albertsons did not say how long Miller intends to stay on as chairman. At 74, he has had a 57-year career in retailing. He has guided Albertsons since 2006, including the takeover of the larger Safeway chain in 2015. The chain has lost money in recent years, though it would be consistently profitable now but for the debt its private-equity owners took on to finance acquisitions.
Donald, 64, has a 47-year retail career. He will run Albertsons day to day and will report to the board led by Miller.
He has served in a variety of executive positions, including CEO of Starbucks for six years. From 2009 to 2011, he was CEO of Haggen, a chain now owned by Albertsons, before taking a position as CEO of Extended Stay America. Along with previously working in leadership positions at Albertsons and Safeway, Donald has also served as a member of the board of directors for Rite Aid from 2008 through 2013.
When Donald rejoined Albertsons in March, Albertsons anticipated acquiring the Rite Aid drug-store chain. That deal later fell apart when some Rite Aid shareholders demanded more money and Albertsons refused.
Albertsons, based in Boise, is one of the largest food retailers in the U.S., with 2,300 stores under several banners and 280,000 employees nationwide.