MINNEAPOLIS — Supervalu on Friday said it has appointed John Standley and Mark A. Neporent to the retailer’s board of directors.
Standley is the current chairman, president and chief executive officer of Rite-Aid, Camp Hill, Pa. Standley has more than 20 years leading food and drug retailers including a stint as CEO of Pathmark. Neporent is chief operating officer of Cerberus Capital Management, the private investor that acquired a stake in Supervalu as part of a deal to buy its former Albertsons assets.
The nine-person board resulting from Friday’s appointments will have five members who are independent directors under the New York Stock Exchange listing standards, Supervalu said. The board will continue the search process for one additional independent director.
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Upon the selection and appointment of this director, Sam Duncan, Supervalu’s president and chief executive officer, will be added, increasing the final size of the board to 11 directors.
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