Supervalu's chief financial officer to depart next month


Supervalu Inc. announced Wednesday that its executive vice president and chief financial officer will leave the company at the end of May, according to a news release.

Sherry Smith has worked at the Eden Prairie-based grocer for 26 years and served as the company's CFO since late 2010. Supervalu said it will name her successor at a later date.

Meanwhile, Karla Robertson is being promoted to executive vice president for legal, effective immediately. She replaces Todd Sheldon, executive vice president, general counsel and corporate secretary, who is also leaving next month.

Before joining Supervalu, Robertson was senior counsel at Minneapolis-based Target.

“Sherry and Todd worked tirelessly to help structure the deal with AB Acquisition and then see the transaction through to completion,” CEO Sam Duncan said in a statement. “I am grateful for their commitment to this company and our shareholders and know they helped put us in a strong position to be successful going forward. I wish them both the best in their future endeavors.”

The latest leadership changes come less than two weeks after Supervalu completed its $3.3 billion deal to sell five of its grocery chains to an investment group.

Last week, the trimmed-down company also announced it was cutting roughly 1,100 corporate and regional office jobs across the country, or about 3 percent of its workforce.

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