SUPERVALU Names Gerald Storch Chairman

(RTTNews) - Grocery retailer SUPERVALU INC. (SVU) Monday said experienced retail executive Gerald Storch has been elected as the company's new chair of its Board of Directors, after Robert Miller, who served as chairman of SUPERVALU's Board of Directors since March 2013, said he would resign his position to focus on other demands.

Commenting on the announcement, the company's director Phil Francis said, "Jerry's tremendous experience in food and specialty retailing makes him especially well qualified for this role."

The company's Board will continue to consult with Miller as a non-paid advisor to the Board.

Storch is chairman and chief executive officer of Storch Advisors, a senior management advisory and consulting firm that focuses primarily on retailing, e-commerce, consumer products and services, as well as consumer financial services.

From 2006-2013, Storch was chairman and chief executive officer of Toys "R" Us, where he helped grow the company into a $13 billion global retailer, including expanding the company's e-commerce business and overseeing several large-scale mergers and acquisitions.

Prior to his tenure at Toys "R" Us, Storch served as vice chairman of retailer Target Corp. During more than a decade with Target, he led its e-commerce site, target.com, the Target grocery business, and the Target Financial Services credit card business, and oversaw Marshall Field's Department Stores.

Storch currently serves as a member of the Board of Directors of Bristol Myers Squibb and Fanatics.

SVU closed down 3.6 percent on Monday at $6.16 and slid 0.7 percent in the extended trade.