Supervalu announces new CEO
MINNEAPOLIS Supervalu on Wednesday named Craig Herkert, 49, formerly of Walmart, as the grocer’s CEO.
Jeff Noddle, 62, who has served as CEO since 2001 and chairman since 2002, will continue to serve as the company’s executive chairman and will work closely with Herkert throughout the upcoming months to ensure a smooth transition of senior management. Herkert’s official start date has not yet been determined.
“The board was looking for a candidate who has both deep retail experience and shares the values that Jeff Noddle and the current executive team have deeply engrained in the Supervalu culture,” stated Lawrence Del Santo, lead director of the Supervalu board. “His recent experience leading diverse formats in some of Walmart’s fastest growing markets, combined with his previous experience working at Jewel-Osco, Acme Markets and Albertsons, make [Herkert] the ideal executive to lead the company forward.”
“As we approach the end of year three of our company’s transformation and as I begin planning for retirement, the time is right to lay the groundwork for continuity of leadership through the next phase of our journey,” Noddle stated. “Craig Herkert is a talented executive with extensive experience in food retailing and supply chain management. As an integral part of Walmart’s senior leadership team, he has demonstrated an ability to create shareholder value and achieve business results. I look forward to working closely with [Herkert] in the coming months to ensure a seamless transition as we, and other members of the Supervalu team, continue to focus on our company’s future growth and success.”
Noddle will serve as executive chairman for at least one year and will play an active role in leading the company’s strategy. A 33-year veteran of the company, Noddle was the chief architect behind the 2006 acquisition of the premier Albertsons properties, the company reported. Noddle is also credited with reshaping the company’s supply chain structure to become increasingly effective through regional realignment, systems standardization and state-of-the-art technology enhancements.
At Walmart, Herkert served as president and CEO of the Americas since 2004. In that role, Herkert was responsible for a $52 billion business that encompassed a variety of diverse formats across Canada, Mexico, and Central and South America. From 2000 to 2003, Herkert served as SVP and COO of Walmart International, responsible for international merchandising, marketing and operations. Prior to joining Walmart, Herkert spent 23 years with the American Stores and Albertsons companies.