SUPERVALU CFO to Resign in May

Barely a week after announcing plans to lay off 1,100 workers, newly slimmed down grocer SUPERVALU (NYSE: SVU  ) added one more pink slip to the pile yesterday: its own CFO.

Yes, on Wednesday, the Eden Prairie, Minn.-based supermarketeer confirmed that that after a 26-year career with the company, CFO Sherry Smith is departing SUPERVALU at the end of May. No replacement has yet been named.

Also departing that month will be General Counsel Todd Sheldon, who is being replaced by Karla Robertson. Robertson receives the title of "executive vice president for legal" for now. As soon as Sheldon is out, though, she will be promoted further to the titles of "executive vice president, general counsel, and corporate secretary," which Sheldon currently holds.

After initially declining on the news yesterday, SUPERVALU shares are back on the rise again today, up 1.8% at $4.78.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2346785, ~/Articles/ArticleHandler.aspx, 7/30/2014 11:30:17 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement