A truck in the Supervalu distribution center in Hopkins in 2006.
Glen Stubbe, Star Tribune
CFO and general counsel leaving Supervalu
- Article by: Mike Hughlett
- Star Tribune
- April 3, 2013 - 4:24 PM
Supervalu’s chief financial officer and general counsel will both exit the company, the latest retooling of its top executive ranks under new CEO Sam Duncan.
The company said Wednesday that Sherry Smith, a 26-year Supervalu veteran who’s been CFO since December 2010, will leave at the end of May. Eden Prairie-based Supervalu plans to announce a new CFO at a later date.
Todd Sheldon, executive vice president and general counsel and corporate secretary, will also exit at the end of May, after assisting the company in completing its fiscal 2013 filings. He’s been with Supervalu since 2008.
Karla Robertson has been named executive vice president for legal, effective immediately. Robertson, who joined Supervalu in 2009 as a senior labor lawyer, will assume Sheldon’s other roles at the end of May.
Duncan started as Supervalu’s CEO in February, less than a month after the struggling supermarket giant announced it was selling its four biggest retail chains to Cerberus Capital Management for $100 million and the assumption of $2.2 billion in debt.
The deal closed last month, leaving Supervalu as a $17 billion company as measured by sales — a little less than half its former size. The company still owns six retail chains, including Cub Foods, the Twin Cities largest supermarket operator.
Mike Hughlett • 612-673-7003
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