By Timothy Inklebarger
Source: Supermarket News
Albertsons announced Friday that Stephen Feinberg, CEO of alternative investment firm Cerberus Capital Management, which owns the grocery chain, is stepping down from the Albertsons Board of Directors following his nomination to serve as deputy secretary of defense.
Feinberg’s nomination by President Donald Trump to serve as the No. 2 official at the Department of Defense thrusts the co-founder of Cerberus into the spotlight.
Feinberg, who was replaced on the Albertsons board by Cerberus Co-CEO Frank Bruno, is a co-founder of Cerberus, which currently has $65 billion in assets under management and operates a wide range of investments and asset classes, including private equity, private credit, real estate, and paramilitary groups.
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