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Blackwells puts up six for Supervalu board

Jul. 09, 2018 7:10 AM ETBy: Clark Schultz, SA News Editor
  • Blackwells Capital LLC is pushing forward six independent director nominees for the board at Supervalu in advance of the annual meeting of shareholders.
  • Blackwells Capital statement: "We have lost faith in the current Supervalu Board, but not in Supervalu. Blackwells has attempted to actively engage with the current Board and management in good faith and offered solutions and skills that would help stem the constant decline at Supervalu. Each time, our efforts have been rejected, misrepresented, or, in our view, coopted incompetently. The current Board even refuses to sit down, face-to-face, with our highly qualified, independent nominees, who offer decades’ more relevant experience than the current directors."
  • Blackswells holds a 7.73% stake in Supervalu through beneficial interests.
  • Source: Press Release

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