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Originally published Wednesday, July 8, 2009 at 2:00 PM

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Supervalu says President, COO Jackson to retire

Supervalu said Wednesday its President and Chief Operating Officer Mike Jackson will retire effective August 14. The grocer plans to realign its retail business following his departure.

MINNEAPOLIS —

Supervalu said Wednesday its President and Chief Operating Officer Mike Jackson will retire effective August 14. The grocer plans to realign its retail business following his departure.

Also retiring is Kevin Tripp, who serves as executive vice president as well as president of the grocer's midwest retail division. Both he and Jackson are 55.

The Minneapolis-based company expects to combine its three retail regions, add a new health division and make several shifts in executive duties after Jackson and Tripp leave.

Supervalu has appointed a new CEO, cut costs and taken several other steps recently to improve business. Shares of the company rose 16 cents, or 1.3 percent, to close at $12.51 Wednesday.

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