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SUPERVALU CFO to Resign in May

By Rich Smith - Apr 4, 2013 at 1:05PM

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No new CFO has been named. Its general counsel, who is also leaving, will be replaced by Karla Robertson.

Barely a week after announcing plans to lay off 1,100 workers, newly slimmed down grocer SUPERVALU (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.

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