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MINNEAPOLIS — Supervalu on Wednesday announced additional changes at the senior level as Sam Duncan, Supervalu president and CEO, finalizes his executive leadership team.

Sherry Smith, EVP and CFO, will leave the company at the end of May. Smith has served as the company’s CFO since her appointment in December 2010. She has spent 26 years with Supervalu and previously served as SVP, finance. The company plans to announce a new CFO at a later date.

Upon the closing of Supervalu's sale of five pharmacy banners to Albertsons LLC, long-time Supervalu vet Dan Salemi will assume the role of president of pharmacy at the new Albertsons LLC. Salemi will succeed Supervalu president pharmacy operations Chris Dimos, who will stay on board until the deal is done. 

MINNEAPOLIS — The sale of 877 stores to Cerberus Capital Management will help Supervalu re-energize its remaining three businesses, current Supervalu president and CEO Wayne Sales told analysts Thursday morning. "What this means … is the company is smaller," Sales said. "And we exit with a much smaller balance sheet to ensure liquidity going forward," he said. This sale will not be followed by any further divestitures, Sales said. "We're not shopping any other assets."

MINNEAPOLIS, Minn. — Supervalu last week settled its suit enforcing a non-compete clause against former president Leon Bergmann, the Minneapolis/St. Paul Business Journal reported last week.

According to the report, Bergmann had resigned as president of Supervalu's independent business organization in favor of a position with Unified Grocers. Supervalu sued to enforce its confidentiality agreements.

Details of the settlement were not disclosed. 

MINNEAPOLIS  — Supervalu confirmed on Thursday that the previously announced review of strategic alternatives is proceeding, and it continues to be in active discussion with several parties.

The retailer stated that there can be no assurance that this process will result in any transaction or any change in the company’s overall structure or its business model.

WEST BRIDGEWATER, Mass. — Shaw's Supermarkets, a subsidiary of Supervalu, on Friday announced plans to reduce its store-level workforce by an estimated 700 positions. These reductions, which will occur across 169 Shaw's and Star Market stores in New England, and will be finalized by Nov. 3, the grocer stated. 

NEW YORK — The jewel in the Supervalu crown — Save-A-Lot — may be up for bid by investment firm KKR, according to a Wall Street Journal blog post published Thursday. 

Also in the hunt is Cerberus Capital Management, which is weighing a bid for all of Supervalu, WSJ reported, citing persons familiar with the matter. However, Cerberus may also look at bidding for only pieces of the grocer. 

Reportedly in the bid for the wholesale end of Supervalu's business is C&S Wholesale Grocers.   

MINNEAPOLIS — While Supervalu has completed its overhaul of its value proposition across its Jewel-Osco banner, the grocer will be analyzing the impact before replicating the price repositioning across its entire chain, the Minnesota-based supermarket chain announced Thursday morning. "We continue to have a market-leading price position amongst conventional food retailers in three markets," Wayne Sales, Supervalu president, CEO and chairman told analysts during the second-quarter conference call.

EDEN PRAIRIE, Minn. — Supervalu recently received multiple national honors for its sustainability efforts, the retailer announced Tuesday. First, the company is featured in the Carbon Disclosure Project’s 2012 “Carbon Disclosure Leadership Index,” which honors companies for both environmental performance and transparency in this area. Supervalu received the highest score among national grocery retailers in this report. 

MINNEAPOLIS — Supervalu on Thursday announced the appointment of Kathy Persian as SVP and chief information officer. Persian, 45, joined the company in February 2010 in the role of group VP retail and merchandising systems, and later moved to group VP corporate planning, analysis and business process. 

Persian was named to the CIO post following the decision by Wayne Shurts to accept a position with another company, Supervalu reported. In her new role as chief information officer, Persian will lead all of the company’s information technology activities.

MINNEAPOLIS — As several suitors eye individual parts of the Supervalu business, Bloomberg reported that Supervalu is seeking buyers to bid for the entire business.

The news sparked a rise in Supervalu shares on Friday. As of press time, shares of Supervalu were up more than 9% to $2.32.