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AMERICAN STORES CO. NAMES LUND PRESIDENT AND CHIEF EXECUTIVE OFFICER

AMERICAN STORES CO. NAMES LUND PRESIDENT AND CHIEF EXECUTIVE OFFICER
 SALT LAKE CITY, Aug. 19 /PRNewswire/ -- L.S. Skaggs, chairman of the board of American Stores Co. (NYSE: ASC), announced that J.L. Scott has submitted his resignation as president and Co-chief executive officer of the company, effective today, and that Victor L. Lund has been elected by the board of directors as president and chief executive officer. Lund's election to these positions follows a transition period in which he and Scott served jointly as Co-chief executive officer.
 Scott will continue to serve on the board of directors and as a member of the executive committee of the board as well as provide regular and continuing consulting services to the company.
 Commenting on his decision to retire, Scott said, "The transition period went exceedingly well. In fact, it is the success of this transition period and the acceptance by the organization that made now an appropriate time to tender my resignation." Skaggs added, "Mr. Scott has been a tremendous asset to our company, especially during our rapid growth in the 1980s. We look forward to his continued contributions as a member of our board."
 Lund, a 16-year veteran of the food and drug industry, has served as vice chairman since 1988 and Co-chief executive officer since March 1992. Additionally, he has served as a member of the board of directors since 1988. He joined American Stores Co. in 1977 after having been associated with the company for five years as an audit executive with Ernst & Young, the public accounting firm. At American Stores Co. he has had experience in all segments of the company's operations. He has held the positions of senior vice president Financial Accounting, senior vice president in the office of the president, executive vice president, president and chief financial officer, and vice chairman, chief financial and administrative officer of the company. Lund has also served as vice chairman of Alpha Beta Stores Inc., in charge of the company's western food and combination store operations.
 A native of Salt Lake City, Lund is a certified public accountant, holds a master of business administration degree from the University of Utah, and is a graduate of the Harvard Advanced Management Program. Lund served in the Army in Vietnam from 1969 to 1971. He is a member of the board of directors of First Interstate Bank of Utah, Steiner Corp. and Judge Memorial Catholic High School in Salt Lake City. Additionally, he was recently named to the National Advisory Board for the David Eccles School of Business at the University of Utah. He has also served on the board of governors of the Food Employers Council of Southern California.
 He and his wife, Linda, have two children, Jeramy and Chandler.
 American Stores Co. is a holding company with 1991 sales of $20.1 billion. Its three wholly-owned subsidiaries are:
 -- Lucky Stores Inc., California's leading food retailer with grocery and combination stores throughout the state;
 -- Jewel Companies Inc., which operates Acme Markets Inc., the market leader in Philadelphia; Jewel Food Stores Inc., the market leader in the Chicago area, and Star Market, one of Boston's leading food retailers; and
 -- American Drug Stores Inc., which operates Osco Drug, the Chicago area's market leader, and Sav-on, the market leader in the greater Los Angeles market.
 As of July 31, 1992, the company's grocery and combination stores subsidiaries operated 932 stores and American Drug Stores operated the drug side of 144 combination stores and 557 stand-alone drug stores.
 -0- 8/19/92
 /CONTACT: Cal Drecksel (investors) or Meredith Anderson (media) of American Stores Co., 801-539-0112/
 (ASC) CO: American Stores Co. ST: Utah IN: REA SU: PER


EH -- LA024 -- 1405 08/19/92 14:33 EDT
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Publication:PR Newswire
Date:Aug 19, 1992
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