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Supervalu restructures management under new CEO

Eden Prairie-based Supervalu is restructuring its management team in attempt to make a comeback. The grocery store chain is up against tough competition and recent attempts to attract shoppers with lower prices have not been successful. Late last month, the chain fired its CEO just weeks after reporting a dismal fiscal first quarter.
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Eden Prairie-based Supervalu is restructuring its management team in attempt to make a comeback. The grocery store chain is up against tough competition and recent attempts to attract shoppers with lower prices have not been successful. Late last month, the chain fired its CEO just weeks after reporting a dismal fiscal first quarter.

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Supervalu fires CEO, names replacement

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The troubled Eden Prairie-based grocery-store chain is expected to provide prospective buyout firms financial information later this week, the Wall Street Journal reports. Last week, Supervalu hired Goldman Sachs to explore selling either part or all of its supermarket operations after it reported a plunge in quarterly profit.

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