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Albertsons Announces New President, And Stock Price Spikes

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Boise-based grocery giant Albertsons has announced current president and chief financial officer Bob Dimond is retiring.

Sharon McCollam will succeed Dimond as Albertsons President and CFO. She retired from a similar position at Best Buy in 2016 and is credited with co-piloting Best Buy’s successful Renew Blue campaign. That strategy helped the company recover from slumping sales and level the playing field against tech giant Amazon.

Albertsons, with 2,278 stores under multiple brands nationwide, will lean heavily on McCollam’s experience to grow its "omni-channel" strategy — a seamless retail experience between in-person, online and social interactions.

McCollam’s resume appealed to investors, as Albertsons stock jumped nearly 17% on the news, peaking Monday at $29 a share but retreating slightly to $28.56 at market close Wednesday.