Albertson's trims board from 19 to 12 members

Drug Store News,  April 9, 2001  

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BOISE, Idaho -- Albertson's has announced plans to downsize its board of directors from 19 members to 12. Among the 12 remaining on the board are former American Stores Co. chairman and chief executive Victor Lund, who is vice chairman of the board, and American's former president Teresa Beck. Albertson's acquired American Stores in mid-1999.

Five members of Albertson's board have announced voluntarily their resignations, effective June 14, the date of the annual meeting. They are: Fernando Gumucio, Charles Lein, Arthur Smith, Steven Symms and Thomas Wilford.

In addition, Gary Michael, the chain's chairman and chief executive, has indicated he will retire in June, as will board member John Fery.

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