Minneapolis-based Supervalu said on Monday that Gerald Storch as been elected chairman of the company’s board, succeeding Robert Miller, who is resigning “to focus on other demands.”
Miller, who is CEO of Albertsons, had been chairman of Supervalu since last March when Supervalu sold its Albertsons portfolio to a group led by Cerberus Capital Management.
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Storch is chairman and CEO of Storch Advisors, a consulting firm that focuses primarily on retailing, ecommerce, consumer products and services, and consumer financial services. From 2006-2013, he was chairman and CEO of Toys “R” Us, and before that he was vice chairman at Target Corp. During more than a decade with Target, he led the retailer’s ecommerce site, the Target grocery business, and the Target Financial Services credit card business, and oversaw Marshall Field’s Department Stores.
“We are thrilled to have Jerry Storch as our new non-executive chairman of the Supervalu board of directors,” said Phil Francis, a Suprvalu director. “Jerry’s tremendous experience in food and specialty retailing makes him especially well qualified for this role.
“At the same time, we are very grateful to Bob Miller, who is truly a giant in the retail grocery industry, for his service on the Supervalu board of directors.”
Miller will continue as a non-paid advisor to the board.
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