Cerberus Names Rite Aid Exec

Robert Miller, chairman of Rite Aid Corp., will become chief executive of the Albertsons Inc. operations that are being acquired by an investment group headed by Cerberus Capital Management, Cerberus said Thursday.

Albertsons, the No. 2 U.S. supermarket operator and the third-biggest in Southern California, is being bought by Supervalu Inc., CVS Corp. and the Cerberus-led investment group in a deal set to close this summer. The Boise, Idaho-based company will be broken up, with each of the three buyers acquiring parts of its operations.

The operations Miller will run for Cerberus and its partners consist of 655 Albertsons stores in Northern California, Dallas/Fort Worth, Florida, the Rocky Mountains and the Southwest. Cerberus plans to operate the stores under the Albertsons name.

A spokeswoman for Rite Aid said the company’s board approved the appointment and believed Miller’s position at Albertsons would not interfere with his ability to remain as chairman of Rite Aid.

Miller is also chairman of natural and organic grocer Wild Oats Markets Inc.