MINNEAPOLIS – Sam K. Duncan has been named president and chief executive officer of Supervalu Inc., effective immediately.
Mr. Duncan succeeds Wayne Sales, who filled the role since July 2012. The leadership change comes in advance of the completion of Supervalu’s transaction with AB Acquisition L.L.C., a Cerberus Capital Management-led consortium, for five of its retail banners.
“Sam is a talented and respected executive with a wealth of industry experience,” Mr. Sales said. “The board decided to install Sam as president and chief executive officer before the completion of our previously announced transaction so he can start refining and where appropriate implement plans for the business. I fully support this decision and look forward to working with Sam to ensure a smooth transition.”
With more than 40 years of retail experience, Mr. Duncan was previously president and c.e.o. of OfficeMax.
“Following January’s announcement, I have visited stores, spoken with many of our independent retailers and Save-a-Lot licensees, and met many team members,” Mr. Duncan said. “These activities have reinforced my belief that Supervalu has a bright future; and I’m excited to start putting in place plans to improve our results and increase shareholder value.”
