Warren E. McCain, chairman and chief executive officer of the Albertson's food and drug chain based in Boise, said he will retire as chief executive on Feb. 1.
McCain said he will stay active in the management of the company as chairman of the executive committee."I will be 65 in December and my intentions are to increase some of my outside activities," McCain said. "In my capacity as chairman of the executive committee, I can stay involved in all major decisions of the company but not be tied down to running the company on a day-to-day basis."
He said directors are expected to announce a new chief executive and other management changes after their regular Dec. 3 meeting.
Albertson's Inc. is the nation's sixth largest operator of food and drug stores.