Supervalu names two executives amid turnaround
Aug 29 (Reuters) - Supervalu Inc on Wednesday named two top executives to help guide the new chief executive's turnaround plan for the U.S. supermarket operator, which has put itself up for sale.
Kevin Holt was named president of Supervalu retail. In an expanded role, he will be in charge of strategy for the company's retail and pharmacy divisions, including marketing and merchandising. He was executive vice president for retail operations, according to the company's website.
Supervalu, which has lost ground to rivals Kroger Co and Wal-Mart Stores Inc, also named Janel Haugarth to the newly created position of executive vice president of business optimization and process improvement.
Haugarth, who will oversee efficiency and cost-cutting efforts, was the company's executive vice president for merchandising and logistics, according to Supervalu's website.
Supervalu CEO Wayne Sales said the changes are designed to address the company's top priorities: boosting profitable sales and cutting costs.
Sales, the company's chairman, took the top post after CEO Craig Herkert was ousted in late July.
Supervalu shares dipped 2 cents to $2.38.
- Tweet this
- Share this
- Digg this