Supervalu Inc. has named former Toys ‘R’ Us CEO and high-ranking Target executive Gerald Storch as its new chairman.
Storch replaces Robert Miller, who is resigning to “focus on other demands,” the company said Monday.
Miller, 69, is also CEO of Boise, Idaho-based supermarket operator Albertsons LLC. He became Supervalu’s chairman last March after the company sold its largest grocery chains to an investor group led by Cerberus Capital Management, which also owns Albertsons LLC.
The deal halved Supervalu’s size, and Samuel Duncan then took over as Supervalu’s CEO.
Storch is CEO of Storch Advisors, a management consulting firm that focuses on retailing, e-commerce and consumer products. From 2006 to 2013, he was CEO of Toys ‘R’ Us, a $13 billion global retailer. Before that, Storch was a vice chairman of Target, leading the retailer’s e-commerce site, Target.com, and the Target grocery business.
“Jerry’s tremendous experience in food and specialty retailing makes him especially qualified for this role,” Supervalu Director Phil Francis said in a news release. “At the same time we are very grateful to Bob Miller, who is truly a giant in the retail grocery industry, for his service.”
Supervalu’s board of directors will continue to consult with Miller in a nonpaid advisory role.