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Supervalu announces departure of CFO, general counsel
Minneapolis -- Supervalu president and CEO Sam Duncan announced Wednesday some major changes to his executive leadership team.
CFO Sherry Smith will leave the company, effective May 30, and no replacement has yet been named. Smith is a 26-year veteran of the company and has served as EVP and CFO since December 2010.
General counsel Todd Sheldon will also leave the company, effective May 30, to be replaced by Karla Robertson, who has been named EVP for legal, effective immediately.
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Abercrombie & Fitch reveals international expansion plans
New York -- In its annual report filed Tuesday, Abercrombie & Fitch revealed that it plans to open Abercrombie & Fitch flagship stores in Seoul and Shanghai in 2013, as well as 20 international Hollister stores. The news sent the teen retailer’s shares rising on Wednesday.
The company also said in the report that it is maintaining its focus on boosting profitability by simplifying processes, eliminating less-profitable parts of its business, shoring up efficiencies and cutting expenses.