By George Anderson
Peter Lynch, president and chief operating officer, Albertsons has resigned from the supermarket chain to "pursue other interests," according to a report by The Idaho Statesman.
Mr. Lynch's departure means chairman and chief executive officer, Larry Johnston will now become the company's president and takeover his responsibilities, as well. Executive vice presidents who previously reported to Mr. Lynch will communicate with Mr. Johnston directly.
Moderator's Comment: Why do you think Peter Lynch resigned from Alberstons? How will his departure affect the workings of the company?
Larry Johnston appears to be taking the weight on Albertsons entirely on himself. It is either an extremely gutsy or stupid move by an executive with only two years experience in grocery retailing. [George Anderson - Moderator]