Sherry Smith Out at Supervalu
The evolving leadership team of the reinvented Supervalu Inc. shifted again this week with the announced departure of longtime finance exec Sherry Smith, who will leave the Minneapolis-based grocery operator at the end of May.
Smith, Supervalu’s executive vice president and chief financial officer, has served as the company’s CFO since her appointment in December 2010. She has spent 26 years with Supervalu and previously served as senior VP of finance. The company plans to announce a new CFO at a later date.
Karla Robertson has been named EVP for legal, effective immediately, replacing Todd Sheldon, EVP, general counsel and corporate secretary, who will stay through May to help complete fiscal 2013 year-end filings. At that time, Robertson will assume Sheldon’s titles and responsibilities, which include overseeing the legal, risk management and asset protection teams for the company as well as working closely with Supervalu’s non-executive chairman, Robert Miller, and the company’s 11-person board of directors.
Robertson joined Supervalu in July 2009 as senior labor and employment counsel and was later promoted to vice president of the employment, compensation and benefits law functions. Previously, Robertson served as senior counsel with Target Corp. and was an employment and business litigation attorney in private practice.
“Sherry and Todd worked tirelessly to help structure the deal with AB Acquisition and then see the transaction through to completion,” said Sam Duncan, president and CEO. “I am grateful for their commitment to this company and our shareholders and know they helped put us in a strong position to be successful going forward. I wish them both the best in their future endeavors.”
Supervalu Inc. operates a network of 3,470 stores composed of 1,950 independent stores serviced primarily by the company’s food distribution business; 1,331 Save-A-Lot stores, of which 950 are operated by licensee owners; and 191 traditional retail grocery stores.