Ritchie Casteel, president of discount retailer Save-A-Lot, will depart from the company March 11, parent company Supervalu said in a filing with the SEC Monday.
The change follows several other recent changes at the executive offices at Supervalu including the appointment earlier this month of Mark Gross as Supervalu's CEO and Eric Claus as CEO of Save-A-Lot, a move announced in December. Rob Anderson, CFO of Save-A-Lot, left the company in September.
Casteel had led Save-A-Lot since 2013, when he succeeded Santiago Roces. Casteel is a veteran grocery executive who previously spent 33 years with Albertsons, as well as Associated Food Stores and Grocery Outlet. He was appointed by Sam Duncan, who retired earlier this month and turned the CEO role over to Gross.
In the filing Eden Prairie, Minn.-based Supervalu gave no reason for Casteel's departure but said "at this time the company does not intend to hire a replacement for Mr. Casteel’s position." A Supervalu spokesman had no immediate comment for SN beyond referring to the filing.
Casteel will be eligible for severance benefits in accordance with Supervalu's executive and officer severance pay plan.
Save-A-Lot, as previously reported, is exploring a spinoff from its parent into a separate public company.
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