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News Breaks | | | | February 4, 2013 | | 08:35 EDT |  | SVU, OMX | SuperValu says Sam K. Duncan installed as CEO, effective immediately
SUPERVAL announced that Sam K. Duncan will become president and CEO, effective immediately. In this role he succeeds Wayne Sales, who has served as the company’s president and CEO since July 2012. Last month, SUPERVALU announced an agreement with AB Acquisition LLC to sell five of its retail banners as well as enter into an agreement with Symphony Investors LLC to conduct a tender offer for up to 30% of SUPERVALU’s outstanding common stock at a purchase price of $4.00 per share in cash. Both AB Acquisition LLC and Symphony Investors LLC are Cerberus Capital Management-led entities. SUPERVALU had previously announced that Duncan would assume the role of president and CEO closing of the transaction. Sales oversaw SUPERVALU’s review of strategic alternatives, and as executive chairman, will continue to have oversight over the completion of the transaction. At the closing of the transaction, Robert Miller, current president and CEO of Albertsons LLC, will become SUPERVALU’s non-executive chairman. Duncan most recently served from 2005-2011 as chairman, CEO and president of OfficeMax (OMX). | |
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| May 23, 2013 | | 11:35 EDT |  | SVU | Harris Teeter among grocers being looked at by Cerberus, WSJ says
 Subscribe for More Information | | | May 14, 2013 | | 12:47 EDT |  | SVU | Options with increasing implied volatility: FMCN FIO SVU BKS
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