Supervalu Names Mark Gross Chief Executive Officer

By Tonya GarciaMarketWatch Pulse

Supervalu Inc. has named Mark Gross chief executive officer, effective Feb. 5. Gross joins after a decade with Surry Investment Advisors, a private consultancy to grocery distributors and retailers that he founded. He succeeds Sam Duncan, who announced his retirement in October. Duncan will step down from the company's 11-person board, effective Feb. 29, Supervalu said in a release. Until then he will act as a special adviser to the board. Gross will join the board on Mar. 1. Supervalu shares are inactive in premarket trading and down 57.1% for the past 12 months. The S&P is down 7.2% for the past year.

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