Former Cadbury executive joins Supervalu
MINNEAPOLIS The former global chief information officer for Cadbury is joining Supervalu.
Wayne Shurts will join the Minneapolis-based supermarket chain as its EVP and CIO. In his new role at Supervalu, Shurts will lead the company’s IT strategy and project implementation. Shurts is replacing Colin Cobain, who was appointed in June 2009 as Supervalu’s interim CIO. Since that time, a search had been underway to permanently fill the role.
“Wayne is a strong and proven leader who understands the grocery industry as well as the systems behind supply chain and logistics within retail organizations,” said Craig Herkert, Supervalu CEO and president. “He is an outstanding addition to our team, and will be invaluable as we continue our focus on becoming America’s Neighborhood Grocer.”
Supervalu amends, extends revolving credit facility
MINNEAPOLIS Supervalu on Monday announced the successful completion of its previously announced plan to amend and extend the revolving credit facility and a portion of its term facility under its secured credit agreement.
Pamela Knous, Supervalu CFO, stated, “Completing this amendment and reducing total debt in the past fiscal year by approximately $850 million, which exceeded our goal of $700 million, represent important milestones toward ensuring our future liquidity.”
The amended credit facility is comprised of the following extended tranches with updated pricing — $1.5 billion of revolving credit expiring April 5, 2015 and $500 million of term loan B maturing Oct. 5, 2015.
Peter Ciano named Tris Pharma’s VP corporate development
MONMOUTH JUNCTION, N.J. A specialty pharmaceutical company that develops innovative drug delivery technologies has appointed a new VP corporate development.
Tris Pharma said Peter Ciano, who currently is a business development consultant for the company, now will lead and manage Tris’ lead all commercial efforts including business development, licensing, identifying growth opportunities and deal executions for its brand side of the business.
“As our technology gains wider acceptance for both Rx and OTC branded businesses, we are increasingly faced with the need for intelligent pursuit of the products and opportunities. Peter’s solid analytical approach coupled with his deep understanding of pharmaceutical marketer’s needs and health care provider’s requirement for reimbursement makes him uniquely qualified to guide and lead Tris in this position,” said Ketan Mehta, founder and CEO of Tris Pharma.
Prior to joining Tris, Ciano worked at Kos Pharmaceuticals (prior to its acquisition by Abbott) for nearly six years, including two years as its executive director of corporate development and business planning.
Most recently, Tris had announced FDA had approval two NDAs including first-ever 24-hour ER suspension. Tris has an active portfolio of more than 20 OTC and Rx products based on its proprietary technology.