Supervalu Appoints Bruce Besanko Executive VP and Chief Financial Officer

Supervalu, an Eden Prairie, Minn.-based grocery wholesaler and retailer, said it named Bruce Besanko executive vice president and chief financial officer. Besanko replaces Sherry Smith, who held the executive vice president and chief financial role at Supervalu since 2010.

Supervalu said Besanko, who most recently served as executive vice president of finance, chief financial officer and chief administrative officer for OfficeMax, will oversee the financial activities of the company and lead a team of almost 700 financial professionals. He will work closely with Sam Duncan, president and CEO, to continue to strengthen the company’s balance sheet and build financial strategies that support the company’s future growth plans.

“I’m very excited to welcome Bruce to Supervalu,” Duncan said. “Having worked with him during a successful turnaround at OfficeMax, I know firsthand of his talent, financial acumen, commitment to success and overall work ethic — all of which will be critical as we continue our rebuilding efforts here at Supervalu.”

Duncan also thanked Smith, who left the company August 9, for her years of service.

“Sherry played an integral role in completing the disposition of the new Albertsons banners and helping reposition the company for the future,” he said. “Her commitment toward improving our business and her leadership during the company’s transition period these past several months is greatly appreciated.”