Supervalu
On A Restructuring Spree With Its Management Ranks
The reputed grocery
store chain, SUPERVALU INC.(NYSE:SVU) is restructuring its management levels
under its new CEO as the firm prepares itself for a turnaround amidst a tough
competition and a weak economy.
Kevin Holt, the sole
operator of Jewel-Osco, Albertson’s and several other grocery store chains was
chosen to be the president of Supervalu retail. He is working on strategy to
enhance the operations in the traditional and pharmacy departments of the company.
He had joined the firm in May as the executive vice president of retail
operations.
Janel Haugarth is a
veteran employee at Supervalu. She will soon become the executive vice
president, process improvement and business optimization, a recently created job
post. She used to be the executive vice president, merchandising and logistics.
While traditional
supermarkets face immense competition from big box retailers and drug shops,
Supervalu is trying to put strong emphasis on attracting shopped with lower prices.
Such efforts have not yet gained traction.
In the last week of
last month, Eden Prairie had fired its CEO a few weeks after reporting a bleak
fiscal first quarter result. Wayne Sales was made the next CEO. The company had
also suspended its dividend and declared its plans to review its business
practices.
BP
Gas Recall Sets Its Current Size To 4.7M Gallons
BP plc (ADR)(NYSE:BP reported
that the size of its gasoline recall is now more than twice of what it
previously was.
Scott Dean, BP
spokesman, said on Wednesday that gasoline was circulated from the BP terminals
in Whiting, suburban Chicago, Indianapolis and suburban Milwaukee. Gasoline
refined in Whiting had also reached stations as far as Columbus and
Bloomington. Dean had previously mentioned that the gas was circulated only on
Milwaukee and Chicago areas and in northwestern Indiana.
As per the statement of
Dean, BP has started processing about 10,000 claims from clients whose vehicles
were affected, majorly in Illinois and Indiana.
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