Something unusual is happening around Albertsons Companies right now. It’s happening quietly. I refer to what’s taking place as a “Silent Coup.” You can read about it in the article I attached.
Based on discussions with sources, and my own reporting, it appears that Albertsons and Cerberus Capital Management, are exploring options for replacing Susan Morris. If the board eventually decides to replace Morris, there is one name I believe everyone should be watching:
Nicholas Bertram
Why would Albertsons consider making a change barely more than a year after Morris became CEO? Here’s why.
✅ Albertsons has lost 47% of its value since Morris became CEO in May 2025.
✅ Albertsons recently cut its FY2026 adjusted EPS guidance from $2.22–$2.32 to $1.75–$1.85 and changed its identical-sales outlook from 0%–1% growth to a decline of 0.5%–1.5%. The stock suffered its worst trading day after the announcement. Susan Morris stated that customers are “leaking to Walmart, ALDI USA, and Amazon.” However, Costco Wholesale and Kroger are also having an impact on sales.
✅ Morris’s strategy to turn around Albertsons, called ACI Edge, will reduce costs but it won’t stop the leakage. The plan will fail.
✅ Morris is being heavily criticized for buying back stock and increasing the dividend. Albertsons even borrowed $750M to buy back their stock at a time when the value of the company is cratering.
✅ Kroger has accused Morris of working behind the scenes with C&S in violation of the merger agreement. The court has yet to rule on the matter and the Kroger/Albertsons lawsuit is ongoing.
Albertsons has a unique history with Nick Bertram. I’m reporting that Bertram was first offered the CEO role to run the divested stores for C&S Retail, had the Kroger merger been approved. Bertram wisely declined. Morris was then offered the role and she accepted.
In the Fall of 2025, Cerberus asked Bertram to join Albertsons board. Susan Morris pushed back against having Bertram on the board and Bertram’s name was withdrawn.
And now there’s another development. I’ve learned that individuals inside and outside of Albertsons, have contacted Bertram to gauge his interest in being the CEO of Albertsons.
Let me be clear: I am not reporting that Albertsons board has launched an official search for a new CEO. Outreach to Bertram may merely be part of a process to identify executives Albertsons can consider for future roles.
Official or not, however, many individuals inside Albertsons and major investors, appear to have come to the same conclusion — Albertsons is in a world of hurt and they need a better CEO.
If Albertsons board officially decides to replace Morris as CEO, it appears that the consensus of who should be the next CEO of Albertsons is Nick Bertram.
I sincerely wish everyone at Albertsons the best.
#Grocery #Retail #Leadership