MINNEAPOLIS — Supervalu is ousting CEO Craig Herkert as the grocery chain looks to right its business only weeks after reporting disappointing quarterly results and suggesting it might put itself up for sale.
Chairman Wayne Sales was named Monday to take on the additional roles of president and CEO.
Supervalu had brought in Herkert, a former Wal-Mart Stores Inc. executive, in 2009 to help shake things up. The grocer subsequently put a heavier emphasis on lower prices and tried to position itself as a neighborhood store to draw new shoppers and keep customers.
Earlier this month, the Minneapolis company reported that both its first-quarter net income and revenue slid and it suspended its dividend.
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