Supervalu shakes up executive leadership

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Supervalu Inc. announced several changes Monday to its executive team as the embattled Eden Prairie-based grocer prepares to sell five of its grocery store chains, according to a news release.

Among the moves, the Associated Press says Kevin Holt, the president of Supervalu's retail arm, Tim Lowe, executive vice president of merchandising and Chief Marketing Officer Michael Moore will all leave the company after the deal closes.

Mark Van Buskirk will become Supervalu's executive vice president of merchandising and marketing after 20 years in leadership positions at supermarket giant Kroger, the Business Journal notes.

Supervalu also said Steve Fox will become senior vice president for food merchandising, the Star Tribune reports. Albertson's executive Rob Woseth was promoted to executive vice president and chief strategy officer.

Click here, to read more about the leadership changes. The company indicated there will be additional announcements in the coming weeks.

Supervalu President and CEO Sam Duncan began his new role last month. He was named CEO in January when Supervalu said it was selling five of its largest retail chains to Cerberus Capital Management for $3.3 billion.

The deal is is expected to be completed the week of March 18, 2013.

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