SUPERVALU Names Bruce Besanko CFO, Effective Aug. 7 - Quick Facts

(RTTNews) - Grocery retailer SUPERVALU Inc. (SVU) has appointed Bruce Besanko as its executive vice president and chief financial officer, with effect from August 7, 2013. Besanko joins the firm after serving as executive vice president of finance, chief financial officer and chief administrative officer for OfficeMax.

Prior to his work at OfficeMax, Besanko served as vice president of finance and chief financial officer for Circuit City Stores Inc. from 2007-2009, as well as senior vice president of finance and chief financial officer for The Yankee Candle Company Inc. from 2005 to 2007.

In this new role at SUPERVALU, Besanko would oversee the financial activities of the $17 billion grocery company and head a team of around 700 financial professionals. Also, he would closely work with Duncan to continue strengthening the company's balance sheet and building financial strategies that support SUPERVALU's future growth plans. Besanko follows current executive vice president and chief financial officer Sherry Smith, who has held the role since 2010. Smith would continue in her CFO role until August 6 and her last day with the company would be August 9.