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Why Albertsons Stock Surged Today

TheMotleyFool

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Shares of Albertsons (NYSE: ACI) jumped 17% on Tuesday after the grocer announced a key hiring.

Sharon McCollam will become Albertsons' president and chief financial officer on Sep. 7. She will replace Bob Dimond, who is retiring but will serve as an advisor until February 2022.

McCollam previously served as Best Buy's (NYSE: BBY) executive vice president and CFO. She is widely credited with helping to spearhead the electronics retailer's "Renew Blue" turnaround program, which helped to bolster Best Buy's e-commerce capabilities and revive its struggling store base.

Source Fool.com

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