OfficeMax CFO Leaves To Join SuperValu

EDEN PRAIRIE, Minn. (AP) — Office supplies retailer OfficeMax Inc. said Wednesday that its Chief Financial Officer Bruce Besanko is leaving to take the same role at supermarket chain Supervalu Inc.

OfficeMax, which is in the process of combining with Office Depot in a $1.2 billion deal, said his last day will be Aug. 6. Besanko was CFO since 2009.

Deb O'Connor, senior vice president, finance and chief accounting officers, will serve as interim CFO as the two companies work toward a merger.

At Supervalu, Besanko replaces Sherry Smith, who had been CFO since 2010.

Supervalu CEO Sam Duncan, who was CEO of OfficeMax from 2005 to 2010, said he has worked with Besanko and praised his "talent, financial acumen, commitment to success and overall work ethic."

Shares of OfficeMax, based in Naperville, Fla., slipped 21 cents, or 1.7 percent, to $11.49. Supervalu shares rose 17 cents, or 2.2 percent, to $7.90.