Supervalu names new CEO

Supervalu (NYSE:SVU) has named Mark Gross the company's new president and CEO, succeeding Sam Duncan who is retiring. 

     Mark Gross

Gross begins in his new role Feb. 5. He joins Supervalu with 20 years of grocery experience. From 1997 to 2006, he served at C&S Wholesale Grocers and later founded Surry Investment Advisors, providing consulting services to grocery distributors and retailers.

"Mark is a talented, strategic and results-driven leader with a wealth of industry experience," said Jerry Storch, Supervalu's non-executive chairman. "We are extremely pleased that Mark will be leading Supervalu and we look forward to working with him to drive the company's performance."

Supervalu also announced that Duncan will be stepping down from the company's board of directors effective Feb. 29, the date of his retirement. Gross will be appointed to the board March 1.

"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," said Sam Duncan. "I leave here knowing the company is in good hands with a strong leadership team and a great foundation in place to build on."

Supervalu has undergone big changes just prior to, and during, Duncan's tenure. The company sold four of its biggest supermarket banners to focus on the wholesale business and has been building its Save-A-Lot brand with an eye to spinning it off as a stand-alone company.

For more:
-See this Supervalu announcement

Related stories:
Supervalu moving toward Save-A-Lot spin-off
Save-A-Lot gets new CEO
Save-A-Lot testing customized stores by ethnicity
Supervalu's future lies in wholesale
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