North American retail group Supervalu has appointed Wayne Sales as its president and chief executive officer, replacing Craig Herkert who will continue to serve as chairman of the board.
Director Philip L. Francis was also elected lead director, according to the company.
Sales has served as a director of Supervalu since 2006 and non-executive chairman of the board since 2010.
According to Supervalu, Sales aged 62, has enjoyed a long and distinguished career, which has earned him several industry awards, and brings extensive retail experience to his new role as CEO.
Sales’ retail executive experience spans more than 35 years, Supervalu said.
Prior to joining Canadian Tire in 1991, he served in several senior leadership positions with the US division of Kmart in the areas of marketing, merchandising and store operations.
“In my new role, I will work closely with our leadership team to improve our sales and earnings trajectory and generate long-term shareholder value, focusing relentlessly on identifying factors that will drive meaningful improvements in our strategy execution and overall performance,” Sales said.
“We will take significant cost out of the business and move with urgency in our retail food business to lower prices and create points of sustainable differentiation for our customers.
Sales said his team will also work closely and collaboratively with independent retailers to ensure that they continue to receive the superior service they need to increase sales and profitability.
Francis, meanwhile, brings to his role as lead director significant retail industry experience, as well as experience in business strategy as a senior executive of a large public company, Supervalu said.
A Supervalu director since 2006, Francis is the retired executive chairman of PetSmart.
Prior to joining PetSmart, Francis was the president and CEO of Shaw’s Supermarkets.
