According to a report by the Associated Press, Cerberus Capital Management has said that Robert Miller will take on responsibility as CEO for the Albertsons stores it is acquiring once the sale of the second-largest US grocer is finalised.

The bulk of Albertsons stores will be acquired by a consortium lead by discount grocer Supervalu and drugstore operator CVS Corp, but 655 of the remaining Albertsons outlets are being purchased by a group of other investors, led by Cerberus Capital Management.

Robert Miller is a director at Harrah's Entertainment and a Nordstrom board member. He served as chairman and CEO of Fred Meyer between 1991 and 1999, when he took a job as the CEO of Rite Aid, where he served until 2003. Miller will continue to hold the chairman of the board position at Rite Aid, Cerberus said.

"I am excited that I will be back in the grocery business, in areas I am familiar with from my past," Miller said in a statement. "Our goal will be to build a successful operation by focusing on what is important to our customers in each market."