A Supervalu shareholder with about 45,000 shares asked CEO Craig Herkert, who accepted a $950,000 bonus but whose company is eliminating its dividend and reeling from poor performance, to show his commitment to stakeholders by cutting his salary to $1 for the next two years.
Herkert declined, and the shareholder said a class-action lawsuit for mismanagement may be coming soon.
Supervalu is the parent company for Acme and Save-A-Lot, among many other supermarket banners. For more about Supervalu’s recent problems, see The end may be near for Supervalu, Acme.