Supervalu Inc has said CFO Sherry Smith will leave the US retailer next month.
Smith, who became CFO in 2010, will step down from the business at the end of May, Supervalu said today (3 April). She has spent 26 years at the retailer. The company plans to announce a successor “at a later date”, it said.
Supervalu is undergoing a period of change after selling off five of its chains. Last month, it announced plans to cut 1,100 jobs from the new-look business.
It offloaded its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores to a consortium led by private-equity group Cerberus Capital Management in a deal worth $3.3bn. Around 870 outlets were included in the transaction.
The sale came after three financial years of falling earnings and revenues at what was one of the largest grocers in the US.
