Supervalu Announces Executive Promotions, Wright's Retirement
MINNEAPOLIS - Supervalu Inc. on Monday announced that John Hooley, corporate senior vice president of retail, and CEO and president of Cub Foods, has been promoted to corporate executive vice president, and president and chief operating officer of Supervalu's retail food companies.
This announcement, effective immediately, gives Hooley responsibility for eight of Supervalu's nine retail banners: Cub Foods, Shop 'n Save, Shoppers Food Warehouse, Metro, bigg's, Farm Fresh, Scott's and Hornbacher's. Save-A-Lot will continue to report directly to Jeff Noddle, Supervalu president and CEO.
Hooley's family founded Cub Foods in 1968. Hooley joined Cub Foods in 1974 and held marketing and merchandising positions before being promoted to Supervalu corporate vice president of merchandising in 1991. He was named president and chief operating officer of Cub Foods in 1992 and became CEO and president in 1993. Hooley was promoted in November 2000 to corporate senior vice president, and CEO and president of Cub Foods.
Supervalu also announced that its long-time chairman, director and former CEO Mike Wright will step down from his positions at the company's annual meeting on May 30.
Jeff Noddle was elected by the board of directors to assume the role of chairman, effective at the meeting.
Wright, who has served as a Supervalu director for 25 years, as chairman of the board for nearly 21 years, and as a strong civic leader, cited the company's announcement last week of its outstanding year-end financial results as evidence that the leadership transition plan has been successful.
"I am very proud of the success Supervalu has achieved," said Wright. "Jeff and his entire leadership team have done an outstanding job this year. So, with great pride, I am handing over the leadership reins to a trusted colleague, a terrific leadership team and 58,000 truly outstanding employees. I am confident the company will continue to ensure Supervalu's long-term success."
Prior to joining Supervalu in 1977, Wright practiced 13 years with the law firm Dorsey & Whitney, Minn. He was elected president and chief operating officer in 1978 and became CEO in June 1981. He assumed the additional responsibilities of chairman of the board in October 1982. In June 2001, Wright retired from the CEO position, while continuing to serve as chairman of the board.
In addition to his position on the board of directors of Supervalu, Wright is past chairman and current member of the board of Food Marketing Institute (FMI), and a former chairman and member of the board of directors of Food Distributors International (FDI). He serves on the boards of directors of Cargill, Inc., Canadian Pacific Railway, Honeywell International, Inc., Wells Fargo & Company, and S.C. Johnson & Sons.
Other executive promotions announced on Monday include: Sherry Smith, corporate vice president and controller, to corporate senior vice president, finance and treasurer; and John Breedlove from corporate secretary to the additional title of associate general counsel.
This announcement, effective immediately, gives Hooley responsibility for eight of Supervalu's nine retail banners: Cub Foods, Shop 'n Save, Shoppers Food Warehouse, Metro, bigg's, Farm Fresh, Scott's and Hornbacher's. Save-A-Lot will continue to report directly to Jeff Noddle, Supervalu president and CEO.
Hooley's family founded Cub Foods in 1968. Hooley joined Cub Foods in 1974 and held marketing and merchandising positions before being promoted to Supervalu corporate vice president of merchandising in 1991. He was named president and chief operating officer of Cub Foods in 1992 and became CEO and president in 1993. Hooley was promoted in November 2000 to corporate senior vice president, and CEO and president of Cub Foods.
Supervalu also announced that its long-time chairman, director and former CEO Mike Wright will step down from his positions at the company's annual meeting on May 30.
Jeff Noddle was elected by the board of directors to assume the role of chairman, effective at the meeting.
Wright, who has served as a Supervalu director for 25 years, as chairman of the board for nearly 21 years, and as a strong civic leader, cited the company's announcement last week of its outstanding year-end financial results as evidence that the leadership transition plan has been successful.
"I am very proud of the success Supervalu has achieved," said Wright. "Jeff and his entire leadership team have done an outstanding job this year. So, with great pride, I am handing over the leadership reins to a trusted colleague, a terrific leadership team and 58,000 truly outstanding employees. I am confident the company will continue to ensure Supervalu's long-term success."
Prior to joining Supervalu in 1977, Wright practiced 13 years with the law firm Dorsey & Whitney, Minn. He was elected president and chief operating officer in 1978 and became CEO in June 1981. He assumed the additional responsibilities of chairman of the board in October 1982. In June 2001, Wright retired from the CEO position, while continuing to serve as chairman of the board.
In addition to his position on the board of directors of Supervalu, Wright is past chairman and current member of the board of Food Marketing Institute (FMI), and a former chairman and member of the board of directors of Food Distributors International (FDI). He serves on the boards of directors of Cargill, Inc., Canadian Pacific Railway, Honeywell International, Inc., Wells Fargo & Company, and S.C. Johnson & Sons.
Other executive promotions announced on Monday include: Sherry Smith, corporate vice president and controller, to corporate senior vice president, finance and treasurer; and John Breedlove from corporate secretary to the additional title of associate general counsel.