SuperValu has announced two key executive appointments as the grocery store chain’s CEO announced he would retire at the end of the company’s current fiscal year.
Sam Duncan has served as SuperValu president/CEO since February 2013 following the sale by SuperValu of five retail grocery banners to Albertson’s. Under Duncan’s leadership and direction, the company has repositioned its three core business segments: Independent Business, Save-A-Lot and its five remaining regional Retail Food banners.
“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. After 46 years in the grocery and retail business, this is a bittersweet moment, but I am also excited by the opportunity to have more time for my family and personal interests following my retirement.”
Following Duncan’s announcement, SuperValu named Bruce Besanko to the newly-created role of evp/chief operating officer, reporting Duncan, and Susan Grafton to evp/chief financial officer, reporting to Besanko. Both appointments are effective immediately.
In his role as chief operating officer, Besanko will retain oversight of the finance function, and assume oversight of the company’s independent business operations, five regional retail food banners, and the company’s merchandising, marketing, and pharmacy functions.
The managerial changes does not impact the company’s continued exploration of a separation of its Save-A-Lot business, company officials said.