SUPERVALU (SVU) Says Kevin Holt Appointed Retail President; Other Exec. Changes Made
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Price: $6.95 +3.89%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 7.6%
Revenue Growth %: -52.7%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 7.6%
Revenue Growth %: -52.7%
Trade SVU Now!
SUPERVALU INC. (NYSE: SVU) is restructuring its executive leadership team to ensure alignment around the company’s goals and to better drive and execute the company’s business turnaround.
To address profitable sales growth, Kevin Holt has taken on an expanded role as president of SUPERVALU Retail. In this position, Holt will drive the overall strategy for the company’s traditional retail and pharmacy divisions, including overseeing the marketing and merchandising functions. He will work closely with Sales and his leadership team to clearly develop the company’s strategic platform. Holt came to SUPERVALU in May from Hudsonville Ice Cream and Kilwin’s Quality Confections in Michigan, where he was the president. Prior to that role he spent three years with Sears Holding Company and 13 years with Meijer, working in leadership positions of increasing responsibility in retail, information technology and strategic planning.
As part of this change, executive vice president and chief marketing officer Michael Moore will now report to Holt, as will Tim Lowe, who has been promoted to executive vice president of merchandising. With nearly 20 years of retail experience, Lowe most recently served as SUPERVALU’s senior vice president of merchandising and was also the president of the company’s Shoppers division from 2010-2012.
In addition, Janel Haugarth has accepted the newly created position of executive vice president, Business Optimization and Process Improvement. She will be responsible for identifying and executing strategies to make SUPERVALU a more streamlined, effective organization. During her 35-year career with SUPERVALU, Haugarth has had leadership-level exposure to every area of the company, and has been instrumental in developing and implementing successful business strategies. With Haugarth’s full-time focus on enterprise-wide optimization, the company will consolidate logistics and procurement leadership under Fred Boehler, who will now report directly to Sales as the senior vice president of supply chain.
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To address profitable sales growth, Kevin Holt has taken on an expanded role as president of SUPERVALU Retail. In this position, Holt will drive the overall strategy for the company’s traditional retail and pharmacy divisions, including overseeing the marketing and merchandising functions. He will work closely with Sales and his leadership team to clearly develop the company’s strategic platform. Holt came to SUPERVALU in May from Hudsonville Ice Cream and Kilwin’s Quality Confections in Michigan, where he was the president. Prior to that role he spent three years with Sears Holding Company and 13 years with Meijer, working in leadership positions of increasing responsibility in retail, information technology and strategic planning.
As part of this change, executive vice president and chief marketing officer Michael Moore will now report to Holt, as will Tim Lowe, who has been promoted to executive vice president of merchandising. With nearly 20 years of retail experience, Lowe most recently served as SUPERVALU’s senior vice president of merchandising and was also the president of the company’s Shoppers division from 2010-2012.
In addition, Janel Haugarth has accepted the newly created position of executive vice president, Business Optimization and Process Improvement. She will be responsible for identifying and executing strategies to make SUPERVALU a more streamlined, effective organization. During her 35-year career with SUPERVALU, Haugarth has had leadership-level exposure to every area of the company, and has been instrumental in developing and implementing successful business strategies. With Haugarth’s full-time focus on enterprise-wide optimization, the company will consolidate logistics and procurement leadership under Fred Boehler, who will now report directly to Sales as the senior vice president of supply chain.
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