Supervalu appoints OfficeMax exec as CFO

Supervalu has named Bruce Besanko as the company’s executive VP and CFO, effective Aug. 7.

Eden Prairie, Minn. -- Supervalu has named Bruce Besanko as the company’s executive VP and CFO, effective Aug. 7. Besanko joins Supervalu after serving as executive VP of finance, CFO and CAO for OfficeMax since 2009.

“I’m very excited to welcome Bruce to Supervalu,” said Sam Duncan, president and CEO. “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.”

Besanko follows current executive VP and CFO Sherry Smith, who has held the role since 2010. Smith will continue in her role as CFO until Aug. 6 and her last day with the company will be Aug. 9. Smith reportedly received a $300,000 retainer to stay with Supervalu two months longer than her previously scheduled departure date to let the company continue searching for her replacement and is leaving as part of an executive shakeup.

Prior to his work at OfficeMax, Besanko served as VP of finance and CFO for Circuit City Stores Inc. from 2007-2009, as well as senior VP finance and CFO for The Yankee Candle Company Inc. from 2005 to 2007.