Quick Stats

Quick Stats

    Poll

    Poll

    Which digital channel do you most widely use to capture shopper feedback?

    You are here

    Supervalu's Smith Paid Extra to Stick Around

    Outgoing CFO gets $300K to stay 2 more months

    Supervalu Inc. is paying its outgoing chief financial officer Sherry Smith $300,000 for an extra two months beyond her scheduled departure as the Minneapolis-based grocery operator continues to search for a new successor.

    The company's CFO since December 2010, Smith and Supervalu were scheduled to part company at the end of May.

    But in a filing Wednesday with the U.S. Securities and Exchange Commission, Supervalu reported it was paying Smith - a 26-year company veteran - a retention payment of $300,000 to stay through July 31, over and above her usual salary, the Minneapolis-St. Paul Business Journal reported.

    Smith offered to stay as Supervalu continued to search for her replacement, a company spokesperson said. Smith is leaving the company as new CEO Sam Duncan assembles a new executive team for the rebuilding company.
     

    Related Content

    Related Content