SUPERVALU Appoints Bruce Besanko as Executive Vice President and Chief
EDEN PRAIRIE, Minn. -- July 24, 2013
SUPERVALU Inc. (NYSE: SVU) today announced it has named Bruce Besanko as the
company’s executive vice president and chief financial officer, effective
August 7, 2013.
Besanko joins SUPERVALU after serving as executive vice president of finance,
chief financial officer and chief administrative officer for OfficeMax, where
he helped strengthen the company’s balance sheet and transform
business-to-business and retail segments for one of the leading global office
supply companies following his appointment in 2009.
“I’m very excited to welcome Bruce to SUPERVALU,” said Sam Duncan, president
and chief executive officer. “Having worked with him during a successful
turnaround at OfficeMax, I know firsthand of his talent, financial acumen,
commitment to success and overall work ethic – all of which will be critical
as we continue our rebuilding efforts here at SUPERVALU.”
Prior to his work at OfficeMax, Besanko served as vice president of finance
and chief financial officer for Circuit City Stores Inc. from 2007-2009, as
well as senior vice president of finance and chief financial officer for The
Yankee Candle Company Inc. from 2005 to 2007. He also held financial
leadership positions at Best Buy Co. Inc., Sears, Roebuck & Co. and Atlantic
Richfield Company in the years prior.
In his role at SUPERVALU, Besanko will oversee the financial activities of the
$17 billion grocery company and lead a team of nearly 700 financial
professionals. He will work closely with Duncan to continue strengthening the
company’s balance sheet and building financial strategies that support
SUPERVALU’s future growth plans. Besanko follows current executive vice
president and chief financial officer Sherry Smith, who has held the role
since 2010. Smith will continue in her role as chief financial officer until
August 6 and her last day with the company will be August 9.
“I especially want to thank Sherry for her many years of service to SUPERVALU
and wish her all the best going forward,” said Duncan. “Sherry played an
integral role in completing the disposition of the New Albertsons banners and
helping reposition the company for the future. Her commitment toward improving
our business and her leadership during the company’s transition period these
past several months is greatly appreciated.”
Besanko earned a Bachelor of Science degree in Psychology from the University
of Cincinnati and holds a Master of Business Administration degree in Finance
and Strategy from the University of Chicago. Besanko also served in the U.S.
Air Force for 26 years, where he rose to the rank of lieutenant colonel.
About SUPERVALU Inc.
SUPERVALU Inc. is one of the largest grocery wholesalers and retailers in the
U.S. with annual sales of approximately $17 billion. SUPERVALU serves
customers across the United States through a network of approximately 3,420
stores composed of 1,900 independent stores serviced primarily by the
Company’s food distribution business, 1,332 Save-A-Lot stores, of which 957
are operated by licensee owners; and 191 traditional retail grocery stores.
Headquartered in Minnesota, SUPERVALU has approximately 35,000 employees. For
more information about SUPERVALU visit www.supervalu.com.
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