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Supervalu Appoints Mark Gross President and Chief Executive Officer

Supervalu Appoints Mark Gross President and Chief Executive Officer


MINNEAPOLIS, MN
Wednesday, February 3rd, 2016

Supervalu has named the successor to retiring President and CEO Sam Duncan.

Mark Gross, President and CEO, SupervaluMark Gross, formerly of C&S Wholesale Grocers and a nearly 20-year retail and wholesale veteran, will be taking over Duncan’s executive duties, effective February 5, 2016.

“I am thrilled to join Supervalu. I am delighted to have the opportunity to help take the Company to the next level and to work with the Board and management team to set the strategic path for the future,” said Gross. “I look forward to working with our great customers and the talented group of employees in this Company, including working with Eric Claus as Supervalu continues to explore and prepare for a potential spin-off of Save-A-Lot.”

Supervalu

During his time with C&S Wholesale Grocers, Gross gained valuable industry experience as the company’s Co-President of overall operations, Chief Financial Officer, General Counsel, and President of its affiliated retail grocery operations.

Jerry Storch, Non-Executive Chairman, Supervalu“Mark is a talented, strategic, and results-driven leader with a wealth of industry experience,” said Jerry Storch, Supervalu’s Non-Executive Chairman of the company’s Board of Directors. “We are extremely pleased that Mark will be leading Supervalu and we look forward to working with him to drive the Company’s performance.”

Other highlights from Supervalu’s executive changes include:

  • Sam Duncan will be stepping down from the company’s 11-person Board of Directors, effective February 29, 2016, but he will continue working with the company to facilitate a smooth transition until that date
  • Gross will be appointed to the Board, effective March 1, 2016
  • Bruce Besanko, Chief Operating Officer, will now report to Gross. He will continue overseeing the day-to-day operations of the company’s Independent Business, Retail Food segments, and finance organization

Sam Duncan, Retiring President and CEO, Supervalu“I am proud of all that we have accomplished these past three years and thankful for the opportunity I’ve had to lead this great Company,” Sam Duncan explained in a press release. “Supervalu has tremendous employees, customers, and licensees, and I leave here knowing the Company is in good hands with a strong leadership team and a great foundation in place to build on.”

During his decade-long tenure at Surry Investment Advisors, Gross offered consulting services with grocery distributors and retailers with respect to strategic and operational matters. Some of his experience includes advising grocery clients on several multi-billion dollar acquisitions and divestitures, as well as consulting with private equity firms with respect to investments in food retail, distribution, and consumer packaged goods sectors, according to a press release.

Save-A-Lot

While it remains to be seen how Gross’s experience will lend to the company’s suspected plans of selling or spinning off its Save-A-Lot business, DeliMarket News will continue updating you with the latest. 

Supervalu