Albertsons Companies, Inc. filed a Form 8-K on September 9, 2026, disclosing the appointment of Margaret Whitman to its Board of Directors as Executive Chair, effective September 8, 2026.

Key Highlights

  • New Executive Chair: Margaret Whitman was appointed to the Board effective September 8, 2026, for a term expiring at the 2027 annual meeting of stockholders.
  • Board Expansion: The Board will expand from 10 to 11 directors in connection with Ms. Whitman's appointment.
  • Lead Independent Director: Kim Fennebresque, who has served as Chair of the Board since September 2025, was appointed as the Board's Lead Independent Director.
  • Compensation: Ms. Whitman will receive an annual base salary of $100,000 and time-based restricted stock units with a grant date value of $8.9 million vesting in one year, subject to continued employment.
  • Not Independent: The Board determined that Ms. Whitman is not an independent director under New York Stock Exchange rules, because she is an employee.
  • No Committee Assignments: Ms. Whitman has not been appointed to any committee of the Board.

Whitman Joins Albertsons Board as Executive Chair, Fennebresque Named Lead Independent Director

According to the filing, Albertsons Companies, Inc. (NYSE:ACI) reported that Margaret Whitman was appointed to its Board of Directors effective September 8, 2026. Ms. Whitman will serve as Executive Chair of the Board for a term expiring at the Company's 2027 annual meeting of stockholders, or until a successor is duly elected and qualified. The Board disclosed that it will expand from 10 to 11 directors as a result of this appointment.

The filing noted that Kim Fennebresque, who has served as Chair of the Board since September 2025, transitions to the role of Lead Independent Director. Because Ms. Whitman is an employee, the Board determined she does not qualify as an independent director under New York Stock Exchange rules. Ms. Whitman has not been assigned to any Board committee, according to the disclosure.

The filing stated that Ms. Whitman's compensation will consist of an annual base salary of $100,000 and time-based restricted stock units carrying a grant date value of $8.9 million, vesting in one year subject to continued employment. The company disclosed that there are no arrangements or understandings between Ms. Whitman and any other person regarding her selection, no family relationships between Ms. Whitman and any director or executive officer, and that Ms. Whitman is not party to any transaction with the company requiring disclosure under Item 404(a) of Regulation S-K.

What Was Disclosed

Albertsons disclosed the appointment of Margaret Whitman as Executive Chair and a Board member effective September 8, 2026, the transition of Kim Fennebresque to Lead Independent Director, the expansion of the Board to 11 members, and the terms of Ms. Whitman's compensation.