Supervalu CEO To Retire In February

Supervalu Inc. President and Chief Executive Sam Duncan will retire in February, three years after he took the job, the company said Thursday. The Minneapolis-based company also said Bruce Besanko has been promoted to the newly created role of executive vice president, chief operating officer, reporting to Sam Duncan, and that Susan Grafton has been promoted to executive vice president, chief financial officer, reporting to Besanko. The appointments are effective immediately. Shares of Supervalu rose 1% in late trading Thursday after ending the day 2.1%.