Supervalu's New CEO to Make $1.5 Million, Plus Some Extras: Business Roundup
A look at what's happening at businesses in Eden Prairie.
Incoming Supervalu CEO Getting Great Options
Supervalu's new CEO Sam Duncan will receive a $500,000 signing bonus, an annual salary of $1.5 million, options for 1.5 million shares of stock and the chance to earn lucrative performance bonuses, according to a recent Pioneer Press article.
Duncan was announced as the incoming CEO after the company sold a huge chunk of assets to Cerberus Capital Management L.P. last week.
Duncan is a grocery retail veteran, serving in the past as CEO of ShopKo Stores, president of Ralph's Supermarket and president of the Fred Meyer division of Kroger, the Pioneer Press reported.
Supervalu expects its now slimmed-down company to make $17 billion in annual revenue.
Read the full Pioneer Press story here.
Popeyes Coming to Town
The country's second largest fried-chicken chain, Popeyes Louisiana Kitchen, is coming to Eden Prairie.
The company confirmed with Patch it will take over the former KFC restaurant at 7995 Glen Lane. The company says it will open "in the future," and did not provide a specific date. The exterior of the building has been repainted and a Popeyes sign covers the tall former KFC sign off Flying Cloud Drive.
Similar announcements have been made about KFC locations in Hopkins, Inver Grove Heights, Richfield and Rosemount, after Popeyes acquired the spaces from a bankrupt KFC franchisee.
Starkey to Distribute Hearing Aids at Ellis Marsalis Center for Music in New Orleans
Starkey Hearing Foundation will conduct a service mission to New Orleans Feb. 2, just in time for the Super Bowl.
According to a press release, the foundation’s team of audiologists and staff will fit each of the more than 100 pre-selected recipients—including 12 local musicians—with their own customized, digital hearing device.
"Hearing is so important to the playing and enjoyment of music, and music is the pulse that drives New Orleans culture," the release said. "Which is why this mission will take place at the Ellis Marsalis Center for Music in the Musician’s Village."
Read the full press release here.
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Recent Eden Prairie business news:
- Supervalu Announces Sale of Some Assests, Layoffs
- Cerberus Says It's Close to Deal with Supervalu
- Supervalu Settles Suit Against Ex Executive: Eden Prairie Business Roundup
- Eden Prairie 3D Printing Company Stratasys Plans Merger
- Changes Coming To Home Depot, Schussler Barn and Eden Prairie Road
- Stratasys Printers Turn Concepts Into 3D Models
- D'Amico & Sons Closes After Problem With Lease
- SuperValu Reports Run on Twinkies: Eden Prairie Business Roundup
