US supermarket group Supervalu Inc has appointed two executives as CEO Craig Herkert continues to reshape the company’s management team.
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In an investor conference call to discuss Supervalu’s third-quarter results, Herkert said he had made “fundamental” changes to the management of the business.
Chuck Golias has been appointed group vice president of strategic planning and has held leadership positions at Home Depot and General Electric.
Herkert also announced the appointment of Keith Wyche who joins as president of Cub Foods. Most recently, Wyche led US operations for Pitney Management Services.
“As CEO one of my primary responsibilities is to build a leadership team that will execute on Supervalu’s new vision,” Herkert said.
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By GlobalDataNews of the management changes came as Supervalu announced it was on-track to meet its full-year earnings guidance.
The firm yesterday (12 January) reported it had swung to a third-quarter profit of US$109m, compared with a prior-year loss of $2.9bn.
While the firm swung to a third-quarter profit, revenue, however, dropped 9.5% to $9.2bn as same-store sales fell 6.5%.
Herkert said sales were “softer than we had anticipated”, and the results “largely reflect the benefit of stabilizing margins and better controls over expenses”.
