retail news in context, analysis with attitude

• The Minneapolis/St. Paul Business Journal reports that two members of Supervalu's board of directors - Mark Neporent and Lenard Tessler - have stepped down, effective immediately. The reason - both men have links to Cerberus Capital, which has just acquired Safeway, one of Supervalu's major rivals.

The story notes that "Neporent is chief operating officer and general counsel for Cerberus Capital Management," and "Tessler is co-head of global private equity and a senior managing director for Cerberus." It was a Cerberus-led investment group that last year "bought several chains from Supervalu in one of the biggest M&A deals of the year. Neporent and Tessler took several board seats on Supervalu in that deal."

Bloomberg reports that Michael Calbert, the head of retail investing at KKR & Co. the private equity firm where he he was involved in the leveraged buyouts of Dollar General and Toys R Us, has left the company after 14 years. He is being replaced by Nathaniel Taylor, a partner in the firm, the company said.
KC's View:
I wonder if we're going to see a lot of this kind of movement, because it sounds like we can expect to see a lot more action at private equity firms interested in getting into the retail action. Upheaval at all levels seems to be likely.