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Form 8-K SUPERVALU INC For: Apr 18

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April 19, 2016 7:37 AM EDT


 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 18, 2016
SUPERVALU INC.
(Exact name of registrant as specified in its charter)
Delaware
1-5418
41-0617000
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)

11840 Valley View Road
Eden Prairie, Minnesota
55344
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code:  (952) 828-4000

 
N/A
 
 
(Former name or former address, if changed since last report)
 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 





Item 5.02   Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 19, 2016, SUPERVALU INC. (the “Company”) announced changes to the Company’s executive leadership team. Among other changes announced in the press release referred to below, the Company’s Board of Directors appointed Bruce H. Besanko, age 57, the Company’s Executive Vice President and Chief Operating Officer, to the additional office of Chief Financial Officer, and appointed Susan S. Grafton, age 59, the Company’s Chief Financial Officer, to the position of Senior Vice President, Finance, and Chief Accounting Officer, each effective April 18, 2016. Additional biographical information about Mr. Besanko and Ms. Grafton is available in the Company’s Annual Report on Form 10-K for the year ended February 28, 2015 and is incorporated herein by reference.
 
On April 19, 2016, the Company issued a press release announcing the executive leadership changes, which is filed herewith as Exhibit 99.1.

Item 9.01  Financial Statements and Exhibits.
(d)  Exhibits.
Exhibit Number
 
Description
99.1
 
News Release of SUPERVALU INC. dated April 19, 2016






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated:
April 19, 2016
 
 
 
 
 
 
 
 
SUPERVALU INC.
 
 
 
 
 
 
By: /s/ Karla C. Robertson       
 
 
 
 
 
 
Karla C. Robertson
 
 
Executive Vice President, General Counsel and
 
 
Corporate Secretary
 
 
(Authorized Officer of Registrant)
 
 
 
 





EXHIBIT INDEX
Exhibit Number
 
Description
99.1
 
News Release of SUPERVALU INC. dated April 19, 2016






Exhibit 99.1

SUPERVALU ADDS JAMES WEIDENHEIMER AS EXECUTIVE VICE PRESIDENT, CORPORATE DEVELOPMENT AND CHIEF INNOVATION OFFICER
Company announces additional executive role changes and renaming of
Independent Business segment to Wholesale

MINNEAPOLIS, MN - (April 19, 2016) -- SUPERVALU INC. (NYSE: SVU) today announced that veteran wholesale executive James Weidenheimer, 57, has been named to the newly-created position of Executive Vice President, Corporate Development and Chief Innovation Officer, reporting to SUPERVALU President and Chief Executive Officer Mark Gross. Weidenheimer joins the Company after having spent the last 16 years in senior leadership positions with C&S Wholesale Grocers. He is expected to start in his new role by April 25, 2016.
In this position, Weidenheimer will work closely with SUPERVALU’s Wholesale and Retail teams to develop and execute on market opportunities, including new business development, cross-channel merchandising and promotions, and integration of logistical/delivery solutions for key SUPERVALU customers.   
“I’m thrilled that Jim will be joining SUPERVALU and serving on our executive leadership team,” said Gross. “Jim and I have worked together in different capacities over the past 20 years.  Jim has a wealth of industry knowledge and extensive expertise in procurement, distribution and logistics and is able to draw on all this experience when considering how to best structure new offerings for a customer. I’m confident that he’ll bring instant credibility to this role and innovation to our business.  We believe there are significant opportunities to grow our business with existing customers and also to add new ones and Jim will be an excellent addition to help us achieve these goals.”
Weidenheimer’s background includes serving as Senior Vice President of Corporate Development for C&S Wholesale Grocers from 2008 to January 2016 when he retired from C&S. Prior to C&S, Weidenheimer served as Vice President and Chief Financial Officer for the wholesale division of Richfood Holdings. He holds a bachelor’s degree from the University of Kansas. 
SUPERVALU today also announced additional changes to Gross’s executive leadership team. Bruce Besanko, the Company’s Executive Vice President and Chief Operating Officer, has added the responsibilities of Chief Financial Officer, a position he held from August 2013 to October 2015. In his role as both Chief Operating Officer and Chief Financial Officer, Besanko will continue to oversee SUPERVALU’s five regional Retail banners, the Company’s merchandising, marketing and pharmacy functions, and the Finance function, as well as add oversight of SUPERVALU’s Human Resources function.  Additionally, the Company announced that Susan Grafton will serve in the position of Senior Vice President, Finance, and Chief Accounting Officer, reporting to Besanko. Grafton will oversee accounting and certain finance functions. These changes to Besanko’s and Grafton’s roles are effective immediately.
The Company also announced the renaming of its Independent Business segment to Wholesale, as wholesale serves as this segment’s primary function, which is to distribute consumable products to retail stores for final sale. Mike Stigers, Executive Vice President, Wholesale, will continue to lead this renamed segment and will report directly to Gross.




“I’m very thankful to have a smart, highly-driven team of executives who have helped me quickly assimilate into my role with SUPERVALU,” said Gross. “I value their contributions and I’m pleased they will be a part of helping me drive the growth of this Company going forward.” 
About SUPERVALU INC. 
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,407 stores composed of 1,871 independent stores serviced primarily by the Company’s food distribution business; 1,336 Save-A-Lot stores, of which 883 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of December 5, 2015). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

INVESTOR CONTACT:
Steve Bloomquist, 952-828-4144

MEDIA CONTACT:
Jeff Swanson, 952-903-1645





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