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AB Acquisition LLC (Albertsons), which operates Albertson’s LLC and New Albertson’s Inc., has promoted Rick Navarro, who has served as CFO since the company’s inception in 2006, to chief administrative officer, while Robert B. Dimond, most recently EVP/CFO and treasurer at Nash Finch, has been named his successor.
“Our decentralized operating structure requires executives with entrepreneurial mindsets, and the work that Rick and Bob have done in their careers exemplify that trait,” said Bob Miller, CEO of Boise-based Albertsons. “Our leadership teams at Albertson’s LLC and New Albertson’s Inc. have done a phenomenal job positioning our stores for the future, and both Rick and Bob are capable executives who will help our company to capitalize on that as we look to grow for the future.”
In his former post, Navarro was integral to the formation of the company in its earliest stages and the creation and implementation of its rigorous operations review processes that have been one of the hallmarks of its success. In his new role, Navarro will build on his vast experience and oversee the information technology, legal, business development, human resources and public affairs functions.
For his part, Dimond brings 24 years of financial and senior executive management experience in the grocery and distribution industry, including his most recent executive duties with the former Minneapolis-based Nash Finch, which has merged with Spartan Stores to the present SpartanNash Co.
Earlier in his career, Dimond was CFO and SVP at the former Wild Oats Markets from April 2005 to December 2006, and he also served as group VP and CFO for the western region of The Kroger Co., as well as VP, administration and controller for Smith’s Food and Drug Centers.
AB Acquisition LLC, which operates Acme, Albertsons, Jewel-Osco, Shaws & Star Market stores, is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners and Schottenstein Stores Corp., and operates 1,075 stores and 12 distribution centers in 29 states.