Wal-Mart Vet to Take Over as Supervalu CEO
has named Craig Herkert, currently president and chief
executive officer of Wal-Mart’s Americas’ operations, as its new CEO. Mr. Herkert replaces
current CEO Jeff Noddle, who will become executive chairman of Supervalu
during the transition.
who has headed up Wal-Mart’s operations in Canada, Puerto Rico and parts
of Central and South America since 2004, has no set start date with Supervalu.
we approach the end of year three of our company’s transformation and as
I begin planning for retirement, the time is right to lay the groundwork
for continuity of leadership,"
said Mr. Noddle. "Craig Herkert is
a talented executive with extensive experience in food retailing and supply
chain management. As an integral part of Wal-Mart’s senior leadership team,
he has demonstrated an ability to create shareholder value and achieve business
board was looking for a candidate who has both deep retail experience and
shares the values that Jeff Noddle and the current executive team have deeply engrained
in the Supervalu culture," said Lawrence Del Santo, lead director
of the Supervalu’s board. "His recent experience leading diverse formats
in some of Wal-Mart’s fastest growing markets, combined with his previous
experience working at Jewel-Osco, Acme Markets and Albertsons, make Craig
the ideal executive to lead the company forward."
Summers, an analyst with Pali Research, told Reuters,
that Supervalu’s move
"suggests that the trajectory of the business is still very problematic,
but then on the flip side it creates an opportunity for a fresh look at things."
What does Supervalu’s hire of Craig Herkert say about where the company
is at the moment and where it would like to be in the future? Will
it become a different company under Mr. Herkert than it has been under
- Supervalu Names Craig Herkert Chief
Executive Officer – Supervalu Inc.
names Wal-Mart int’l executive CEO – Reuters
new CEO comes from Wal-Mart – Minneapolis Star Tribune
- Supervalu Taps Head Of Wal-Mart
Americas Ops As Next CEO – Dow Jones Newswires/The Wall