NEW YORK (TheStreet) -- Supervalu (SVU) stock is decreasing 5.53% to $4.10 in mid-morning trading on Wednesday after the company choose Mark Gross to succeed Sam Duncan as CEO, effective Friday.

Gross has led Surry Investment Advisors, a grocery distributor and retailer consulting firm, for the past decade.

The appointment of Gross, who advised several companies on acquisitions and divestures, comes less than a month after Supervalu agreed to spin-off the Save-A-Lot business.

"I look forward to... working with [Save-A-Lot CEO] Eric Claus as Supervalu continues to explore and prepare for a potential spin-off of Save-A-Lot," Gross said in a statement.

Duncan will also step down from the company's board of directors when he retires on February 29 and the position will be filled by Gross.

Minneapolis-based Supervalu is a grocery wholesaler and retailer with about 3,407 locations in the U.S.

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Separately, Supervaly has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's strengths, such as earnings per share growth and good cash flow, and its weaknesses, including deteriorating net income, disappointing stock performance and poor profit margins.

You can view the full analysis from the report here: SVU

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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