MINNEAPOLIS — Supervalu on Monday said that Wayne C. Sales (right) has been named president and chief executive officer, replacing Craig R. Herkert. Sales will continue to serve as chairman of the board. Director Philip L. Francis has been elected lead director. Herkert (left) had been Supervalu’s CEO since May of 2009, but the former Wal-Mart executive was unable to stop sales declines, and Supervalu's earnings and its share price collapsed. Earlier this month Herkert ...

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