SUPERVALU Names Mark Gross President And CEO - Quick Facts

(RTTNews) - SUPERVALU INC. (SVU) announced that it appointed Mark Gross as its President and Chief Executive Officer, effective February 5, 2016. Gross, age 52, will succeed Sam Duncan who has previously announced he will be retiring.

SUPERVALU also announced that Sam Duncan will be stepping down from the Company's 11-person Board of Directors effective with his retirement on February 29, 2016, and that until that time, he will continue with the Company as a special advisor to the Company's Board of Directors to facilitate a smooth transition. Gross will be appointed to the Board effective March 1, 2016.

Additionally, the Company said that Bruce Besanko, Chief Operating Officer, will report to Gross and continue to oversee the day-to-day operations of the Company's Independent Business and Retail Food segments as well as the Company's finance organization.

Mark Gross joins SUPERVALU with 20 years of grocery and wholesale leadership experience. From 1997 to 2006, Gross served at C&S Wholesale Grocers, including serving as Co-President of C&S's overall operations from 2005-2006. Additionally, during his tenure with C&S, Gross served as Chief Financial Officer, General Counsel, and President of its affiliated retail grocery operations.