<p style="text-indent:0px; line-height:12px;"><span style="font-weight:bold;">Minneapolis, MN-</span><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">By Jordan Okumura<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">02.04.13</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Supervalu has announced that Sam K. Duncan has been named President and Chief Executive Officer. Mr. Duncan succeeds Wayne Sales, who has served as the Company’s President and Chief Executive officer since July 2012, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><img src="https://cdn.andnowuknow.com/legacyWriterImages/supervalunewceobody.jpg" alt="SuperValu New Ceo/President" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">“Sam is a talented and respected executive with a wealth of industry experience,” said Mr. Sales. “The Board decided to install Sam as president and chief executive officer before the completion of our previously announced transaction so he can start refining and where appropriate implement plans for the business. I fully support this decision and look forward to working with Sam to ensure a smooth transition.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The announcement comes on the heels of an agreement with AB Acquisition LLC last month, to sell five of Supervalu's retail banners as well as entering into an agreement with Symphony Investors LLC to conduct a tender offer for up to 30 percent of SUPERVALU’s outstanding common stock. Supervalu has also reaffirmed that the closing of the announced sale and tender offer process is expected to occur the week of March 18th.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">AB Acquisition LLC and Symphony Investors LLC are Cerberus Capital Management-led entities. Mr. Sales oversaw SUPERVALU’s review of strategic alternatives, and as executive chairman. He will continue to have oversight over the completion of the transaction. Robert Miller, current President and CEO of Albertsons LLC, will become SUPERVALU’s non-executive chairman at the closing of the transaction.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Mr. Duncan, reflected on his appointment, stating, “Following January’s announcement, I have visited stores, spoken with many of our independent retailers and Save-a-Lot licensees, and met many team members. These activities have reinforced my belief that SUPERVALU has a bright future; and I’m excited to start putting in place plans to improve our results and increase shareholder value.”<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">He has more than 40 years of experience in the retail industry, including nearly 30 years with Albertsons and Kroger.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Congratulations, Mr. Duncan!</p><hr class="legacyRuler"><hr class="invisible minimal-padding">
