Tuesday July 31, 2012

Supervalu Names CEO

Minneapolis — Wayne C. Sales has been named president and CEO of Supervalu, Inc., while Philip L. Francis has been elected lead director of the board, the company says.

Additionally, Sales will remain chairman of the board and will work with the leadership team to improve sales and earnings while generating long-term shareholder value and continuing the company’s review of its strategic alternatives.

Further, Sales says: “We will take significant cost out of the business and move with urgency in our retail food business to lower prices and create points of sustainable differentiation for our customers.”

Sales has more than 35 years of retail executive experience, according to Supervalu, while Francis also has significant retail knowledge, having served as executive chairman of PetSmart, Inc.