SUPERVALU Makes Changes to Board of Directors


MINNEAPOLIS, 2010 (BUSINESS WIRE) –SUPERVALU INC. announced today that, after a deliberative review, it is making changes to the size and composition of its board of directors. Actions include reducing current board membership from 15 to 12 directors, adding two new directors to bring new perspectives to the board’s oversight of the company, and naming a non-executive chairman.

After many years of distinguished service, five board members are leaving the company. As planned following his 2009 retirement announcement, Jeff Noddle, age 63, current chairman of the board and former chief executive officer of SUPERVALU, will be retiring effective at the company’s annual meeting in June 2010. Lawrence A. Del Santo, age 76, who has been a director since 1997 and lead director since 2006; and Garnett L. Keith, Jr., age 74, are also retiring from the board effective at the annual meeting. In addition, A. Gary Ames, 65, and Marissa T. Peterson, age 48, whose terms would expire in 2011, voluntarily resigned from the board effective April 14, 2010.

The board also announced that it is nominating Matthew E. Rubel, age 52, chairman, CEO and president of the footwear, accessory and lifestyle brand company Collective Brands, Inc. (owner of Payless ShoeSource), and Donald R. Chappel, age 58, senior vice president and chief financial officer of The Williams Companies, Inc., an energy transmission company, to stand for election at the company’s annual meeting.

Finally, the board expects to name Wayne C. Sales, age 60, retired vice chairman of Canadian Tire Corporation Limited and a director of SUPERVALU since the Albertsons acquisition in 2006, to the newly created position of non-executive chairman following the annual meeting.

Mr. Sales stated, “The board is grateful for the leadership that Jeff and Larry have provided, and the important contributions of all of our directors. These include, most recently, their execution of a successful transition to new leadership under Craig Herkert, the guidance they have provided to help SUPERVALU navigate through the recent economic environment while maintaining its focus on long-term value creation, and their dedication to the highest standards of board governance.”



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