MINNEAPOLIS — Supervalu Inc. president and chief executive officer Sam Duncan plans to retire February 29, 2016, following the end of the company’s current fiscal year.
Supervalu Inc. president and chief executive officer Sam Duncan plans to retire February 29, 2016, following the end of the company’s current fiscal year.
Duncan was named president and CEO in February 2013 in connection with the company’s sale of five retail grocery banners to Albertsons. That deal significantly scaled back Supervalu’s retail supermarket business and, under Duncan’s leadership, the company repositioned itself around three core business segments: independent business, Save-A-Lot and its five remaining regional retail food banners.
Jerry Storch, non-executive chairman of the board, said the board process for naming a successor to Duncan is under way, including consideration of internal and external candidates.
Supervalu also said that Bruce Besanko has been promoted to the newly created role of executive vice president and chief operating officer, reporting to Duncan, and that Susan Grafton has been promoted to executive vice president and chief financial officer, reporting to Besanko.
In his role as COO, Besanko will remain responsible for Supervalu’s finance function and will assume oversight of the company’s independent business operations, five regional retail food banners, and merchandising, marketing and pharmacy functions.
