MINNEAPOLIS — Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said.
The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.
"I am very pleased that John and Mark have accepted positions on our board," Supervalu non-executive chairman Bob Miller said. "It is important that we have a strong board of directors with a mix of industry, financial and professional experience to draw upon. John and Mark provide tremendous knowledge and a strong understanding of the guidance and direction this board should offer Supervalu during its rebuilding process."
Standley became Rite Aid's CEO in 2010 and was elected chairman of the retail pharmacy chain's board in June 2012, having been named its president and COO in September 2008. He had previously served as Rite Aid's chief administrative officer and senior EVP from 1999 to 2005, as well as serving as CEO and board member of Pathmark Stores from 2005 to 2007.
Rite Aid's relationship with Supervalu dates back to 2010, when the two companies announced a deal to open 10 co-branded Rite Aid-Save-a-Lot stores in the Greenville, S.C., area.