The D3 Family Funds Support Blackwells Capital’s Six Candidates for Election to the Board of Supervalu
SUPERVALU (SVU)
Last supervalu earnings: 7/26 07:39 am
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US:NYSE Investor Relations:
supervaluinvestors.com
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Source: Business Wire
CAMAS, Wash.--(BUSINESS WIRE)-- The D3 Family Funds, which own 550,000 shares representing approximately 1.4% of Supervalu Inc. (NYSE:SVU) will vote all of their shares for the six director slate nominated by shareholder Blackwells Capital. David Nierenberg, founder and managing partner of D3, explained D3’s decision: “We believe that SVU’s equity has enormous upside potential if SVU can execute its wholesale growth and sale-leaseback strategy with urgency, speed, and accountability. We want to see this upside realized for the benefit of all stakeholders. While SVU’s current board of directors deserves kudos for its diversity, its selection of Mark Gross to lead SVU, and its support for Gross’ strategy, the board has presided over such a massive and long-running decline in SVU’s share price that accountability simply demands changes. If SVU could elect a ten person board, instead of nine, we woul
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