Claus brings over 30 years of retail
experience, including hard discount and grocery, as well
significant CEO experience to the Company’s Save-A-Lot
business
SUPERVALU INC. (NYSE: SVU) today announced that retail veteran
Eric Claus has been named the new Chief Executive Officer of
Save-A-Lot, the Company’s hard-discount grocery segment. Claus, 59,
joins the Company after spending the past two-plus years as the
Chairman, President and Chief Executive Officer of Red Apple Stores
Inc., a chain of value retail stores, in Canada. Claus is expected
to start in his role with Save-A-Lot on or before January 4,
2016.
SUPERVALU also announced that, effective with the start of
Claus’ employment with the Company, Ritchie Casteel will serve as
President of Save-A-Lot, reporting to Claus, and will continue to
oversee day-to-day store operations while working closely with
Claus on Save-A-Lot’s market development, store growth plans and
preparation for the possible spin-off of Save-A-Lot.
Claus has spent more than 30 years in the retail industry with
career stops in both the United States and Canada, where he has
gained deep experience in both hard discount and grocery retail. He
has served as Chief Executive Officer for Co-Op Atlantic, President
and Chief Executive Officer at the Great Atlantic & Pacific Tea
Company (A&P), first in the Canadian division and then
overseeing the U.S. operations from 2005-2009, and as an advisor to
private equity firms on the retail and consumable goods industry.
Since July 2013, he has served as Chairman, President and Chief
Executive Officer of Red Apple Stores Inc., where he restructured
and transformed the now 155-store value-oriented clothing, general
merchandise and food chain.
“I’m very pleased that Eric is joining our SUPERVALU team to
serve as CEO of Save-A-Lot,” said SUPERVALU President and Chief
Executive Officer Sam Duncan. “He has a great background in food
retailing, and is a smart and charismatic leader. His strengths in
and experience with the hard discount format as well as his history
leading retail companies will be important as we look to finish our
fiscal year strong and as we continue to position Save-A-Lot for
the future.”
Jerry Storch, the Company’s Non-Executive Chairman of the Board
said, “Eric brings tremendous experience to Save-A-Lot. The
SUPERVALU Board of Directors is looking forward to Eric adding his
strategic and long-term planning capabilities to the Company and
working together on our continued exploration of a potential
separation of Save-A-Lot.”
Duncan continued, “I’m also very grateful and appreciative for
all the work and positive results that Ritchie has delivered in his
leadership role at Save-A-Lot. When I came to SUPERVALU, Ritchie
was one of my first appointments and he has done a phenomenal job
these past two and one-half years. He is a tremendous leader and
operator and it reflects in the performance we’ve experienced in
our corporate stores and in the confidence he’s helped restore with
our licensees. I look forward to Ritchie working closely with Eric
to drive sales and growth at Save-A-Lot.”
Save-A-Lot is headquartered in St. Louis, MO and has
approximately 9,300 employees nationwide supporting its 1,342
stores, of which 901 are operated by licensee owners (store counts
as of September 12, 2015). The business also operates 17
distribution centers across the country to support its existing
stores and future store growth.
SUPERVALU announced in July 2015 that it was exploring a
separation of its Save-A-Lot business, and that as part of that
process it had begun preparations to allow for a possible spin-off
of Save-A-Lot into a stand-alone public company. SUPERVALU is
continuing preparations to separate Save-A-Lot, although at this
time there can be no assurances that a separation or spin-off of
Save-A-Lot will occur, or that any other changes in the Company’s
overall operations will happen.
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 3,395 stores composed of
1,854 independent stores serviced primarily by the Company’s
food distribution business; 1,342 Save-A-Lot stores, of which 901
are operated by licensee owners; and 199 traditional retail grocery
stores (store counts as of September 12, 2015). Headquartered
in Minnesota, SUPERVALU has approximately 40,000 employees. For
more information about SUPERVALU visit www.supervalu.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995.
Except for the historical and factual information contained
herein, the matters set forth in this news release, particularly
those pertaining to SUPERVALU’s expectations, guidance, or future
operating results, and other statements identified by words such as
"estimates," “anticipates,” "expects," "projects," "plans,"
“intends” and similar expressions are forward-looking statements
within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially, including uncertainties as to
the start date of Mr. Claus and as to the terms, timing or
structure of any separation transaction and whether one will be
consummated at all, the impact of any separation transaction on the
businesses of SUPERVALU and the Save-A-Lot business on a
standalone basis if the separation were to be completed, whether
the operational and strategic benefits of a separation can be
achieved and whether the costs and expenses of the separation can
be controlled within expectations. Other factors include
competition, ability to execute initiatives, substantial
indebtedness, labor relations issues, escalating costs of providing
employee benefits, relationships with Albertson’s LLC, New
Albertson’s, Inc. and Haggen, intrusions to and disruption of
information technology systems, impact of economic conditions,
governmental regulation, food and drug safety issues, legal
proceedings, severe weather, natural disasters and adverse climate
changes, disruption to supply chain and distribution network,
changes in military business, adequacy of insurance, volatility in
fuel and energy costs, asset impairment charges, fluctuations in
our common stock price and other risk factors relating to our
business or industry as detailed from time to time
in SUPERVALU's reports filed with the SEC. You
should not place undue reliance on these forward-looking
statements, which speak only as of the date of this news
release. Unless legally
required, SUPERVALU undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20151202005745/en/
SUPERVALU INC.Investor Contact:Steve Bloomquist,
952-828-4144steve.j.bloomquist@supervalu.comorMedia
Contact:Jeff Swanson,
952-903-1645jeffrey.s.swanson@supervalu.com
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