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February 4, 2013
08:35 EDTOMX, SVUSuperValu 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 companyís 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 SUPERVALUís 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 SUPERVALUís 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 SUPERVALUís non-executive chairman. Duncan most recently served from 2005-2011 as chairman, CEO and president of OfficeMax (OMX).
News For SVU;OMX From The Last 14 Days
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October 1, 2015
16:15 EDTSVUSupervalu announces CEO Sam Duncan intends to retire
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