Supervalu has named a new chairman for its company board of directors. Retail executive Gerald Storch replaces Robert Miller, who resigns the position to “focus on other demands,” according to the Eden Prairie, Minn.-based company. Miller served as chairman since March 2013.
Storch is chairman and CEO of Storch Advisors, a senior management advisory and consulting firm that focuses primarily on retailing, e-commerce, consumer products and services as well as consumer financial services. From 2006-2013, Storch was chairman and CEO of Toys “R” Us, where he helped grow the company into a $13 billion global retailer, including expanding the company’s e-commerce business and overseeing several large-scale mergers and acquisitions.
Prior to his tenure at Toys “R” Us, Storch served as vice chairman of Target, a $70 billion retailer. During more than a decade with Target, Storch led the retailer’s e-commerce site, target.com, the Target grocery business and the Target Financial Services credit card business, and oversaw Marshall Field’s Department Stores. He currently serves as a member of the board of directors of Bristol Myers Squibb and Fanatics.
Storch received an MBA from Harvard Business School, a Juris Doctor from Harvard Law School and holds a bachelor of arts degree from Harvard College.
“We are thrilled to have Jerry Storch as our new non-executive chairman of the Supervalu board of directors,” said Supervalu Director Phil Francis. “Jerry’s tremendous experience in food and specialty retailing makes him especially well qualified for this role.
“At the same time, we are very grateful to Bob Miller, who is truly a giant in the retail grocery industry, for his service on the Supervalu board of directors,” Francis added. “The board will continue to consult with Bob as a non-paid advisor to the board as we move forward, and we are both pleased and fortunate that Bob is willing to assist in this capacity.”
Supervalu’s 11-person board includes seven members who are independent directors under the New York Stock Exchange listing standards.
