SUPERVALU Board of Directors Elects Mike Jackson as President and Chief Operating Officer
Jackson to Lead SUPERVALU's Numerous Strategies Across Company
MINNEAPOLIS, June 15 /PRNewswire-FirstCall/ -- SUPERVALU INC. (NYSE: SVU) today announced the election of Mike Jackson, 51, as president and chief operating officer for the Minneapolis-based Fortune 500 company at its annual meeting. Jackson most recently was executive vice president, and president of distribution food companies for SUPERVALU. (Photo: http://www.newscom.com/cgi-bin/prnh/20050615/CGW034 ) Commenting on today's announcement, Jeff Noddle, SUPERVALU chairman and chief executive officer, said, "Mike is an excellent choice to execute the broad array of strategies that SUPERVALU has underway. The transformation of SUPERVALU continues to unfold and we are well-positioned to reach our full potential in grocery retailing and supply chain services. Mike's strong execution skills will be an important asset to the organization as we implement a sizable number of initiatives including our new third-party logistics business, the new produce offering, numerous projects across our retail portfolio, and the further deployment of technology across our company." Mike Jackson commented, "I am very excited to serve SUPERVALU in this new role and look forward to providing leadership as we pursue these new business initiatives. SUPERVALU offers an exciting future as a company rich with tradition and full of dedicated and talented individuals. I am fully committed to the successful implementation of the company's strategic vision." Noddle added, "SUPERVALU has a very promising future. Our strength in grocery retail and supply chain services, together with our business strategies and sound financial condition, is evidence of the groundwork we have laid to continue SUPERVALU's strong history of success." Effective immediately, Mike Jackson will assume the duties of president and chief operating officer. Jackson's career includes both distribution and retail experience since joining SUPERVALU in 1979. During his 26-year career, he has served the company in key assignments. Prior to being named executive vice president, and president of distribution food companies in 2001, Jackson served as senior vice president of operations for corporate retail from 1999 to 2001. Within the industry, Jackson serves on the Food Marketing Institute's (FMI) wholesale advisory board, National Grocers Association (NGA) executive committee - board of directors, and the International Grocers Association (IGA) USA board of directors. In the community, Jackson also is active in a variety of community roles, including the YMCA Metropolitan Minneapolis board of directors. Jackson holds a degree in management and accounting from the University of Wisconsin. He has also completed the Wharton School's executive management program at the University of Pennsylvania. About SUPERVALU INC. Celebrating its 135th year of fresh thinking, SUPERVALU INC., a Fortune 500 company, is one of the largest companies in the United States grocery channel. With annual revenues of approximately $20 billion, SUPERVALU holds leading market share positions across the U.S. with its more than 1,500 retail grocery locations, including licensed Save-A-Lot locations. With its Save-A-Lot format, the company holds the number one market position in the extreme value grocery retail sector. Through SUPERVALU's geographically diverse distribution network, the company provides distribution and related logistics support services to nearly 4,500 grocery retailers across the nation. In addition, SUPERVALU's third-party logistics business provides integrated end-to-end supply chain management solutions that deliver value for manufacturers, consumer products retailers and food service customers. SUPERVALU currently has more than 56,000 employees. For more information about SUPERVALU visit http://www.supervalu.com . The statements contained in this news release that are not historical fact are forward-looking statements and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by such forward-looking statements, including the impact of competition, the nature and extent of the consolidation of the retail food and food distribution industries, the ability to attract and retain customers for the company's food distribution operations and to control food distribution costs, the ability of the company to grow through acquisition and assimilate the acquired entities, the execution of restructuring activities, potential work disruptions from labor disputes or national emergencies, the availability of favorable credit and trade terms, food price changes, general economic or political conditions that affect consumer buying habits generally or war-time activities, threats or general acts of terror directed at the food industry that affects consumer behavior, other risk factors inherent in the food distribution and retail businesses and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
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