Moving ahead with turnaround plan, Supervalu restructures executive leadership team
MINNEAPOLIS — Moving ahead with its previously announced turnaround strategy, Supervalu said it has overhauled its executive leadership team.
Led by chairman, president and CEO Wayne Sales, Supervalu announced that EVP retail operations Kevin Holt would take on an expanded role as president of Supervalu's retail business. In this role, Holt will drive the overall strategy for the company's traditional retail and pharmacy divisions, including overseeing the marketing and merchandising functions. Holt also will work closely with sales and his leadership team to clearly develop the company’s strategic platform, the company said.
As part of this change, EVP and chief marketing officer Michael Moore now will report to Holt, as will Tim Lowe, who has been promoted to EVP merchandising. Lowe previously served as SVP of Supervalu's merchandising organization, a role he has held since May.
In addition, EVP merchandising and logistics Janel Haugarth has accepted the newly created position of EVP business optimization and process improvement at Supervalu. A 35-year company veteran, Haugarth will be responsible for identifying and executing strategies to make Supervalu a more streamlined, effective organization.
The executive moves follow the company's less-than-favorable first-quarter results, reported in late July. Supervalu announced a number of dramatic measures to stabilize its business — reduction in capital spending, suspension of the company's dividend, even the exploration of possible strategic alternatives — in conjunction with its declining first-quarter earnings results. One of the measures included the hiring of Wayne Sales to replace leader Craig Herkert.
"We are moving quickly to reinvigorate Supervalu, and that starts with leadership," Sales said. "The changes I have made to my executive team are designed to address two of our most immediate priorities: driving profitable sales in our retail stores and taking costs out of the business. These efforts are critical to our successful turnaround."