Supervalu Hires Wal-Mart Exec To Run Save-A-Lot
EDEN PRAIRIE, Minn. (AP) -- Supervalu Inc. has named a former Wal-Mart Stores Inc. executive as the head of its Save-A-Lot grocery chain.
The grocer said Thursday that Santiago Roces, 48, is the new CEO and president for Save-A-Lot. Roces worked most recently as senior vice president and general manager of Wal-Mart's small-format division. He replaces Bill Shaner, who led Save-A-Lot since 2006 and worked for Supervalu for 27 years.
Supervalu has made Save-A-Lot a major part of its turnaround efforts. The company plans to double the number of the no-frills Save-A-Lot stores to respond to shoppers who are concentrating on low prices. The company plans to have more than 2,400 Save-A-Lot locations by the end of 2015.
Supervalu, one of the poorer performers in its industry heading into the recession, has been trying to revamp its business. In addition to putting its focus on the Save-A-Lot chain, the company added several new leaders, cut costs, lowered debt, tightened operations, increased marketing and sold or closed some stores.
Roces is not the first Wal-Mart executive that the company has tapped for help. Supervalu CEO Craig Herkert came to the company in 2009 from the discount retailer.
Before becoming Wal-Mart's small-format leader, Roces held a variety of leadership positions there including senior vice president of new business development and customer experience, president and CEO of Wal-Mart Korea, and chief merchandising officer of Wal-Mart Argentina. He also has held leadership positions at PepsiCo and Carrefour, a major discount and grocery retailer based in France.
Shares of Save-A-Lot, which also operates Albertson's and Jewel-Osco, rose 21 cents to $10.95 in early afternoon trading.
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