EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Jul. 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
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
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
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Source: SUPERVALU Inc.
Jeff Swanson, 952-903-1645