Search on for new Supervalu CEO

Supervalu announced that president and CEO Sam Duncan will retire at the end of the company’s fiscal year. The company also elevated two other executives to key senior leadership roles and affirmed its commitment to exploring strategic alternatives for the Save-A-Lot retail division.



The $18 billion grocery wholesaler and retailer said Duncan would remain with the company until February 29, 2016. He joined the company in February 2013 in connection with the sale by Supervalu of five retail banners to Albertsons.



“Supervalu is a terrific organization and we have accomplished a great deal together during the past two and one-half years,” said Duncan. “I have thoroughly enjoyed working with our employees and thank them for all of their hard work and dedication. I am also looking forward to finishing the year strong and continuing to drive sales and cash through my remaining time at the company, as well as providing time and support to ensure a smooth transition for my successor.”



Supervalu non-executive chairman of the board Jerry Storch had kind words to say about the departing executive who spent 46 years in the retail and grocery world.



“Sam has made a tremendous contribution to Supervalu during his tenure as President and CEO,” Storch said. “He helped stabilize the business following the sale of the five retail grocery banners and has led a turn-around in the performance of the entire company including improving the performance of all three of its core business segments. The Company is in a better place today because of Sam’s leadership.”



To help lead the business going forward until Duncan’s successor is named, Supervalu promoted Bruce Besanko to the newly created role of executive vice president and COO and named Susan Grafton executive vice president and CFO. Both appointments were effective immediately.