Progressive Grocer - October 2009 - (Page 20)

2009 R ETAILER OF THE Noddle’s brother, Allan, a former executive with Amsterdam-based Royal Ahold and a longtime industry luminary in his own right, conveys deep admiration for his younger brother’s illustrious career and impressive track record. “Jeff made his own way in this business — he started in the stores and quickly rose through the ranks because he’s got a lot of common sense,” says the elder Noddle, “and also because he’s a great person to work with, and a fabulous person to work for.” Beyond brotherly love, Allan Noddle resoundingly applauds all that his younger sibling has done to “give back to community, his family and the industry throughout his life. That’s what makes him the outstanding executive that he is, and why he’s been recognized far and wide for his contributions — not just by his own company, but also by the industry as a whole.” Both ardent community and civic leaders, Allan and Jeff Noddle readily attribute their philanthropic allegiance to their late parents, Robert, who came to the United States in the early 1920s from Lithuania in his late teens, and Edith, whose family emigrated from Russia and who died in 2003 at age 91. “Our parents came to this country with nothing, but learned through hard work and education that you can be a success in America,” notes Allan, who returned to Omaha upon retiring from Ahold in 2002 and who remains closely connected to the industry as a board member and consultant for many esteemed companies. “We were expected to work hard, get an education and never forget where we came from, so charity was always a part of the way we were raised.” “Ultimate Game-Changer” Progressive Grocer’s Y EAR Tangible evidence of that creed was manifested in the Noddle family kitchen, via a metal box with a coin slot, into which the boys were expected to drop spare change until it was full. The money was taken to their synagogue, which in turn, distributed it to the needy. “We had a very sound family life and very happy upbringing,” reflects Allan, and that goes a long way in explaining “why we turned out the way we did.” Indeed, that solid rearing likely played a large role in helping Jeff Noddle make “a fast name for himself at Supervalu,” continues Allan, citing his younger brother’s role in reshaping the company’s supply chain structure, systems standardization and technology enhancements. Even better, he adds, “Jeff also proved to be the ultimate game-changer threeand-a-half years ago, with the stunning, creative purchase of Albertsons.” As the chief architect of the highly publicized• Progressive Grocer • October 2009 $17.4 billion deal in 2006 that tripled the company’s ably [would] never even [have] thought about, let size and vaulted it to the position of the nation’s third- alone [tried], because they’d have been too scared to largest grocer, Supervalu transformed virtually take the risk.” In turning the former wholesale-driven overnight from a Fortune 100 company into a Fortune company into a predominantly retail-driven one, “Jeff 50 firm, leapfrogging from a $19 billion entity with saw the possibilities that others couldn’t even con50,000 associates to a $44 ceive of.” billion company with Supervalu board mem200,000 associates, and flipber Lawrence Del Santo, ping its former 50/50 balretired CEO of The Vons ance of distribution and Cos., concurs. “Jeff came retail businesses to an 80/20 to the board with the national retail powerhouse. proposition that we should After closing the deal consider the Albertsons that secured the key propacquisition. He evaluated erties of the former strugthe long-term viability of gling Albertsons — Acme Supervalu as a free-standMarkets, Bristol Farms, ing company and, while Jewel-Osco, Shaw’s, Star acknowledging the comMarkets, many of Albert- Linda and Jeff Noddle, enjoying the company of plexities of the deal, sponsons eponymous banner their five grandchildren. sored the acquisition,” stores, and Osco and Savrecalls Del Santo. “He has on pharmacies — Supervalu’s top two supermarket been very methodical, straightforward and objecrivals, Kroger and Safeway, were furiously immersed tive in his plan to put the two organizations together in their own repositioning initiatives, which have and worked tirelessly to mold the two cultures into since yielded systemwide store-level improvements, one outstanding organization.” vibrant private label programs, and aggressive pricAside from possessing an admirable work ethic, ing strategies. “Jeff is a very talented leader who has the ability to get people excited about the company, its objectives and the importance of their participation and cooperation.” In turning the formerly wholesale-driven says Del Santo. “I attended several company into a primarily retail-driven one, management meetings at our oper“Jeff saw the possibilities that ating divisions with Jeff and witnessed others couldn’t even conceive of,” his ability to develop enthusiasm for his brother Allan says. our company while acknowledging the difficult tasks ahead.” In the first two quarters post-acquisition, Supervalu’s stock price rose significantly, surprising Wall “The Clear Leader” Fellow Supervalu board member Skip Gage, Street by beating projections. But no sooner had it begun putting the pieces of its new, very large chairman and CEO of the Minneapolis-based inteand highly complex puzzle together than an eco- grated marketing services firm GAGE Marketing nomic downturn kicked in that put a severe damper Group, also mentions the Albertsons acquisition on its consolidation activities and related acquisition when asked about a concrete example of Jeff’s leaddebt service. The lingering difficult economic envi- ership abilities in action. “Although he knew this ronment that’s given rise to more budget-minded was a game-changer for Supervalu, Jeff would not consumers who have curtailed spending for the allow us to pay too much, and literally walked from foreseeable future, coupled with investments in its the deal a couple of times. This acquisition will be pricing and promotional spending, have since taken reviewed many times by the industry in light of a significant toll on Supervalu’s financial perform- the current consumer recession and the liquidity crisis, but given Supervalu’s long-term options, I ance and stock price. But Allan Noddle firmly believes the Albertsons believe it will prove the right thing for us to have deal was far more significant than meets the casual done at the time, and Jeff was the clear leader.” In the board room, as in life, negotiating different observer’s eye. “It forever changed” the company’s DNA, he says, “and is a move that most people prob- points of view comes with the territory, but Noddle’s A H E A D O F W H AT ’ S N E X T www.progressivegrocer.com http://www.progressivegrocer.com

Table of Contents for the Digital Edition of Progressive Grocer - October 2009

Progressive Grocer - October 2009