Kim Fennebresque has been elected as the new chair of the Albertsons Companies Inc. Board of Directors following the retirement of Jim Donald.
In other changes, David Zinsner, EVP and chief financial officer of Intel Corp. will join the board as an independent director. Allen Gibson also has retired.
Fennebresque has served as an independent director since 2015, providing leadership and insights on financial strategy, strategic initiatives and risk management. He serves as the chair of the Compensation Committee and a member of the Audit Committee.
He also is the chair of the Supervisory Board of BAWAG P.S.K., one of Austria’s largest banks, and serves on the board of Ally Financial and chairs BlueLinx Holdings.
He served as a senior advisor to Cowen Group Inc., a diversified financial services firm, from 2008-20, and as its chairman, president and CEO from 1999-2008.
Zinsner has served as EVP and CFO of Intel Corp. since 2022, where he leads the company’s global finance organization, including accounting, reporting, tax, treasury, internal audit and investor relations.
He brings more than 25 years of financial and operational experience in the technology and semiconductor industries, having held executive leadership positions at Micron Technology, Analog Devices, Intersil Corp. and Affirmed Networks.
“At this important time for both Albertsons Cos. and the industry, I am honored to take on the role of chair of the board,” Fennebresque said. “I am also pleased to welcome David to the board and look forward to benefiting from his insights and experience as we continue guiding the company’s path to long-term value creation.
“With technological and digital improvements grounding our ‘Customers for Life’ strategy, David’s deep expertise in finance, technology and AI will be a tremendous asset as we chart the course for the future.”
Zinsner welcomed the opportunity.
“I have long admired Albertsons Cos. and the customer-driven commitment that is core to its culture,” he said. “I look forward to working with Kim, Susan [Morris] and the rest of the board and management team to accelerate the company’s digital transformation progress, drive innovation to enhance the customer value proposition and create value for shareholders.”
Morris, CEO of Albertsons Cos., expressed gratitude to Donald for his “distinguished leadership, mentorship and guidance as chair of the board over the years” and also thanked Gibson for his contributions.
“I am excited to work with Kim in his new role and pleased to welcome David to the board. David’s deep expertise with technology transformation and experience helping organizations manage complexity, drive growth and innovate will help take our ‘Customers for Life’ strategy to the next level.”
Other board members include directors Sharon L. Allen, Lisa Gray, Sarah Mensah, Alan H. Schumacher, Frank Bruno, B. Kevin Turner and Mary Beth West.
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