Albertsons Companies 'A'

Albertsons has named Meg Whitman to the newly created role of executive chair; the board will expand from ten to eleven members, and Kim Fennebresque will serve as lead independent director. Whitman will act as an operational and strategic adviser to CEO Susan Morris and the leadership team, with a focus on AI technologies and the customer experience in stores and digital channels. Whitman previously served as CEO of eBay and Hewlett‑Packard and brings extensive board and executive experience. » Mere på de.investing.com

At the annual general meeting, Albertsons shareholders approved several amendments to the certificate of incorporation, including provisions establishing simple majorities for changes to board size and liability limitations for executives. The company filed the revised certificate of incorporation in Delaware. All nominated candidates were elected to the board of directors; their terms run until the 2027 AGM. Deloitte & Touche was confirmed as the independent auditor, the non‑binding say‑on‑pay advisory vote on executive compensation was approved, and a proposal on human rights was rejected. » Mere på de.investing.com

Albertsons shares extended a five-day losing streak, wiping out about 26% of market value and trading near a 52-week low. The move followed weak Q1 results with adjusted EPS of $0.42 (expectation $0.54) and a roughly 20% cut to the full-year guidance to $1.80. The CFO also resigned, and Citi and UBS downgraded the stock from "Buy" to "Neutral" and lowered their price targets, citing market share losses, high pricing positioning and restructuring risks. » Mere på de.investing.com