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Supervalu’s Sales joins Toys “R” Us board
Former Supervalu and Canadian Tire executive Wayne Sales was named to the board of directors at Toys “R” Us to fill a position vacated by Michael Calbert.
Calbert had served on the Toys “R” Us board since 2005 and the company noted his departure did not involve any disagreement. Calbert also serves on the board of Dollar General and earlier this year resigned from KKR & Co.
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Additions to Supervalu board
Supervalu has elected Frank (Terry) Savage and Mathew Pendo to its board of directors.
Savage and Pendo were both appointed to the board as designees of Symphony Investors, a Cerberus Capital Management-led investor consortium, under the terms of the tender offer agreement entered into with Symphony Investors and Cerberus in connection with Supervalu’s sale of five banners to an affiliate of Symphony Investors. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock.