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CVS Caremark Charitable Trust awards $2.6M in funding to nonprofits

BY Antoinette Alexander

WOONSOCKET, R.I. — The CVS Caremark Charitable Trust, a private foundation created by CVS Caremark, has announced that $2.6 million in grants has been awarded to 66 nonprofit organizations across the country.

The new grant recipients were chosen through the 2012 CVS Caremark Charitable Trust’s annual grant cycle. The awarded grants align with CVS Caremark’s purpose of helping people on their path to better health and focus on initiatives supporting access to health care and children’s programming.

To advance the CVS Caremark Charitable Trust’s efforts to improve the quality of health and well-being of underserved populations, grants were awarded to support innovative approaches that increase access to health care for underserved populations — including support for mobile health innovations that bring healthcare services to locations where people need them most.

Grants also align with CVS Caremark All Kids Can, a signature program of the CVS Caremark Charitable Trust and CVS Caremark that is committed to helping children of all abilities by increasing access to specialized medical and rehabilitation services, and providing inclusive opportunities for physical activity, play and social enrichment.

"We are excited to help deserving nonprofit organizations with the funding they need to create healthier outcomes in their local communities in 2013," stated Eileen Howard Boone, president of CVS Caremark Charitable Trust. "All of the nonprofit organizations we support share our purpose of helping people on their path to better health, and we are honored to recognize the important work they do to make a difference in the lives of children and families in the communities we serve."

In addition to the grants awarded by the CVS Caremark Charitable Trust, CVS Caremark provided more than $3 million in 2012 to support a variety of programs focused on making a positive impact in local communities.

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Supervalu announces additional changes to executive suite

BY Michael Johnsen

MINNEAPOLIS — Supervalu on Wednesday announced additional changes at the senior level as Sam Duncan, Supervalu president and CEO, finalizes his executive leadership team.

Sherry Smith, EVP and CFO, will leave the company at the end of May. Smith has served as the company’s CFO since her appointment in December 2010. She has spent 26 years with Supervalu and previously served as SVP, finance. The company plans to announce a new CFO at a later date.

Karla Robertson has been named EVP legal, effective immediately. She replaces Todd Sheldon, EVP general counsel and corporate secretary, who will stay through May to assist the company in the completion of its fiscal 2013 year-end filings. At that time, Robertson will assume the additional roles and responsibilities held by Sheldon, including the title of EVP general counsel and corporate secretary. In this role, Robertson will have responsibility for overseeing the legal, risk management and asset protection teams for the company as well as working closely with Supervalu’s non-executive chairman, Robert Miller, and the company’s 11-person board of directors.

Robertson joined Supervalu in July 2009 as senior labor and employment counsel and was later promoted to VP employment, compensation and benefits law functions. Prior to Supervalu, Robertson served as senior counsel with Target Corporation and was an associate attorney at Faegre & Benson LLP, where she practiced in both the employment and business litigation areas.

“Sherry and Todd worked tirelessly to help structure the deal with AB Acquisition and then see the transaction through to completion,” Duncan said. “I am grateful for their commitment to this company and our shareholders and know they helped put us in a strong position to be successful going forward. I wish them both the best in their future endeavors.”

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The Street: Jim Cramer picks Safeway over Whole Foods

BY Michael Johnsen

NEW YORK — Mad Money’s Jim Cramer tabbed Safeway over Whole Foods in an interview with The Street published Tuesday.

One of the big plusses behind Safeway is its proposed IPO of its Blackhawk pre-paid card division. But that isn’t all, Cramer noted — main stream supermarkets are eating away at Whole Foods’ grab on organics. "[Safeway] understand[s] that organic’s the way to go, and these places have reinvented themselves," Cramer told The Street. Safeway is also "shareholder friendly," Cramer added, with a dividend at 6.7%.

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