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SVU > SEC Filings for SVU > Form 8-K on 7-Mar-2014All Recent SEC Filings

Show all filings for SUPERVALU INC



Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On March 6, 2014, Mark Neporent and Lenard Tessler resigned from the Board of Directors of SUPERVALU INC. ("SUPERVALU" or the "Company"), effective immediately. Mr. Neporent and Mr. Tessler were both appointed to the Board of Directors in 2013 as designees of Symphony Investors LLC ("Symphony Investors"), an investor consortium led by Cerberus Capital Management L.P. ("Cerberus"), under the terms of the Tender Offer Agreement dated January 10, 2013 (the "Tender Offer Agreement") by and between SUPERVALU, Symphony Investors and Cerberus. Mr. Neporent, chief operating officer and general counsel of Cerberus, and Mr. Tessler, co-head of global private equity and senior managing director of Cerberus, resigned following and in light of the announcement on March 6, 2014 of a definitive agreement under which an entity controlled by a Cerberus-led investor group will acquire all outstanding shares of food retailer Safeway Inc. Under the terms of the Tender Offer Agreement, Symphony Investors, which owns approximately 20.9 percent of SUPERVALU's outstanding common stock, has the right to designate replacement directors for Mr. Neporent and Mr. Tessler.

On March 6, 2014, the Company issued a News Release relating to the resignations of Mr. Neporent and Mr. Tessler. A copy of the News Release issued by the Company is attached as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number               Description
99.1      News Release, dated March 6, 2014

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