Supervalu Appoints Sherry Smith New CFO
Eden Prairie-based Supervalu, Inc., announced Thursday that it has named Sherry Smith as the company's chief financial officer (CFO)-a post she had previously held on an interim basis. Smith will assume her role immediately.
Smith came to Supervalu in 1987 and has held a variety of positions in the corporate accounting and financial reporting areas of the company, including vice president, corporate controller, and treasurer. Prior to serving as the interim CFO, Smith was the company's senior vice president of finance for eight years.
“[Smith] brings extensive knowledge and understanding of our industry, business, and evolving culture,” Supervalu CEO Craig Herkert said in statement. “I am grateful for the work that Sherry performed as our interim CFO. Her guidance and leadership during the past several months made it increasingly clear to the executive search committee and me that she is the best candidate to lead our finance efforts going forward.”
Smith assumed the role of interim CFO after Pamela Knous decided to step down as CFO in July to leave the company and pursue other career interests.
Smith is a certified public accountant who began her career with CPA firm McGladrey and Pullen, primarily serving manufacturing and financial institution clients.
Smith has been active in key initiatives at Supervalu, including acquisitions and business realignment activities, the company said. She has also worked closely with other members of management in strengthening the company's relationships with various banking and financial partners.
Supervalu operates a network of approximately 4,290 stores-ranging from hard discount to traditional and premium grocery stores-and employs about 160,000. It is Minnesota's fourth-largest company based on revenue, which totaled $40.6 billion in its most recently completed fiscal year.