EDEN PRAIRIE, Minn. — Office supplies retailer OfficeMax Inc. said Wednesday that its Chief Financial Officer Bruce Besanko is leaving to take the same role at supermarket chain Supervalu Inc.
OfficeMax CFO Bruce Besanko leaves to take finance chief role at Supervalu
July 24, 2013 at 6:50PM
OfficeMax, which is in the process of combining with Office Depot in a $1.2 billion deal, said his last day will be Aug. 6. Besanko was CFO since 2009.
Deb O'Connor, senior vice president, finance and chief accounting officers, will serve as interim CFO as the two companies work toward a merger.
At Supervalu, Besanko replaces Sherry Smith, who had been CFO since 2010.
Supervalu CEO Sam Duncan, who was CEO of OfficeMax from 2005 to 2010, said he has worked with Besanko and praised his "talent, financial acumen, commitment to success and overall work ethic."
Shares of OfficeMax, based in Naperville, Ill,, slipped 22 cents, or 1.9 percent, to $11.48 in afternoon trading while Supervalu shares rose 13 cents, or 1.8 percent, to $7.86.
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The governor said it may be 2027 or 2028 by the time the market catches up to demand.
