SUPERVALU (SVU) Taps Former OfficeMax (OMX) Chief Duncan as CEO

February 4, 2013 8:33 AM EST
On February 4, 2012, SUPERVALU INC. (NYSE: SVU) announced that Sam K. Duncan has been appointed as President and Chief Executive Officer of SUPERVALU, effective February 4, 2012, and that the current President and Chief Executive Officer, Wayne C. Sales will cease to serve in those positions and will continue his employment as Executive Chairman of SUPERVALU. A copy of the related press release is attached to this Current Report on Form 8-K as Exhibit 99.1.

Mr. Duncan, 61, most recently served from 2005 to 2011 as Chairman, CEO & President of OfficeMax (NYSE: OMX), the third largest office supplies retailer in North America with over $7 billion in revenues and more than 1,000 stores in the United States, Mexico, Puerto Rico and the US Virgin Islands. In addition to retail, Mr. Duncan also oversaw the company’s business-to-business sales and service divisions in Canada, Australia and New Zealand. Prior to joining OfficeMax, Mr. Duncan served from 2002 to 2005 as President and CEO of ShopKo Stores, a $3 billion Midwest retailer. In both these leadership roles, Duncan successfully led publicly traded companies through growth and financial improvement efforts, resulting in stronger organizations and improved shareholder value. Mr. Duncan has an extensive background in the grocery industry. He began his career at Albertsons as a courtesy clerk at the age of 15. During the next 19 years, he held various positions of increasing responsibility with Albertsons before moving to Fred Meyer, a division of Kroger, in 1992 as Vice President of Grocery. He was eventually appointed President of the Fred Meyer division. Duncan also served from 1998 to 2001 as President of Ralph’s Supermarket, one of the largest food retailers in Southern California.

Mr. Sales, 63, has served as President and Chief Executive Officer of SUPERVALU since July 29, 2012. Mr. Sales has also served as a Director of SUPERVALU since 2006 and Chairman of the Board of Directors of SUPERVALU since 2010 (serving as Non-Executive Chairman of the Board from 2010 to 2012). He is the retired Vice-Chairman of Canadian Tire Corporation Limited, a retail, financial services and petroleum company, which he led as President and Chief Executive Officer from 2000 to 2006. Mr. Sales is also a Director and Chair of the Compensation Committee of Tim Hortons Inc., which is the fourth-largest publicly traded quick service restaurant chain in North America based on market capitalization. Additionally, until recently he served as a Director and Chair of the Compensation Committee of Georgia Gulf Corp., a leading, integrated North American manufacturer of chemicals and vinyl-based building and home improvement products, and as a Director and Chair of the Nominating/Governance Committee of Discovery Air Inc., a specialty aviation company.

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