-
Supervalu makes changes to board following Albertsons/Safeway deal
Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.
Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.
-
Board changes at Supervalu in wake of acquisition
New York -- Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.
Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.