MINNEAPOLIS, MN - Supervalu has announced President and CEO Sam Duncan’s predecessor today, with Mark Gross taking over for the retiring company head, effective February 5, 2016.
“I am thrilled to join Supervalu,” Gross said in a statement. “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. 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.”
Gross, formerly of C&S Wholesale Grocers, comes to Supervalu with nearly 20 years of retail and wholesale experience. During his time with C&S, Gross served as Co-President of the company’s overall operations, Chief Financial Officer, General Counsel, and President of its affiliated retail grocery operations.
“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 topics mentioned in the press release include:
- Sam Duncan will be stepping down from the company’s 11-person Board of Directors effective with his retirement on February 29, 2016.
- Duncan will continue 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.
- Besanko will continue to oversee the day-to-day operations of the company’s Independent Business, Retail Food segments, and finance organization.
“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,” explained Sam Duncan 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.”
Gross’s expertise lies in consulting services to grocery distributors and retailers with respect to strategic and operational matters, which he did during his decade-long tenure at his firm, Surry Investment Advisors. He has experience in assisting grocery clients on several multi-billion dollar acquisitions and divestitures and consulted with private equity firms with respect to investments in food retail, distribution and consumer packaged goods sectors, according to a press release.
How will Gross’s experience lend to the company’s suspected plans of selling or spinning off its Save-A-Lot business? It’s too early to tell now, but AndNowUKnow will update you with the latest.
