Kroger Creates Alternative Business Lead
In a separate release Kroger announced that it is promoting Stuart Aitken to the newly created role of senior vice president, Alternative Business.
In this role, Aitken will assume oversight for Kroger's successful existing alternative profit businesses, including 84.51° and Kroger Personal Finance, and also lead the development of a full portfolio of alternative businesses to support the transformation of Kroger's growth model. Aitken will continue to serve as chief executive officer of 84.51° and oversee Kroger's marketing function.
"Stuart is a dynamic leader with a proven track record of value creation in businesses that further monetize Kroger's successful core," said McMullen. "Throughout his time at 84.51° and as a member of Kroger's senior leadership team, Stuart has been instrumental to the successful development and growth of the alternative profit stream portfolio. That portfolio makes the transformation of Kroger's growth model possible, by developing successful asset-light, margin rich businesses."
Aitken has been group vice president since 2015 and has been responsible for leading Kroger's data analytics subsidiary, 84.51°, as its chief executive officer since its inception. In addition, Aitken has helped transform Kroger's marketing efforts as chief marketing officer since 2017. Prior to this, he served as the chief executive officer of dunnhumbyUSA. Aitken has over 15 years of marketing, academic and technical experience across a variety of industries, and held various leadership roles with other companies, including Michael's Stores and Safeway, Inc.
Kroger's is working to transform the traditional retail growth model through its Restock Kroger efforts. Kroger has outlined on-going initiatives to redefine the grocery customer experience and strengthen the Kroger ecosystem by reducing costs and investing the savings in associates, technology, and price to grow units, traffic and share.
At Kroger's 2018 Investor Day, Aitken delivered the company's vision for alternative profit streams, presenting the business case for leveraging stores, logistics and data assets to create incremental new profit streams, which, in turn, drive investments to further redefine the customer experience. In this way, Kroger's new growth model will be a virtuous cycle.
Technology and digital are fundamental elements of Restock Kroger, Kroger's three-year plan to create shareholder value by serving America through food inspiration and uplift. Kroger's digital and technology platforms play a key role in enabling Kroger to provide customers anything, anytime, anywhere. Developing talent at all levels is also a critical driver to ensure Kroger's successful transformation from traditional grocery to growth company.