RTTNews | Aug 10, 2021 12:30PM EDT

12:29 Tuesday, August 10, 2021 (RTTNews.com) - Shares of food and drug retailer Albertsons Companies (ACI) are climbing 12 percent on Tuesday's trading as the company announced the appointment of Sharon McCollam as the new President and Chief Financial Officer, effective September 7.

She will be taking over from Bob Dimond, who will retire but will remain in the company as an advisor till February 2022 to help with the transition process. McCollam will be reporting to Chief Executive Officer Vivek Sankaran.

McCollam had retired from Best Buy in 2016 where she worked as Executive Vice President, Chief Administrative and Chief Financial Officer. After exiting Best Buy, she served as a member of many corporate boards, including companies in consumer, e-commerce and healthcare sectors.

Currently trading at $27.68, the stock has traded between $12.91 and $28.40 in the past 52 weeks.

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