Moran Foods, LLC, parent company of Save A Lot, announced that Cathy Skula has been appointed to the company’s board of directors as an independent director, effective immediately. The announcement was made on Wednesday, days after it was reported that the company completed a business refinancing.
Skula currently serves as operating partner of Riverside, a global investment firm, and brings to the board more than 30 years of experience in retail.
“Cathy is an outstanding leader with a demonstrated record of driving growth,” said Leon Bergmann, chief executive officer, Save A Lot, in a statement. “Her deep expertise in retail for the value-seeking customer, along with her understanding of the complex dynamics of independent operators, aligns very well with our brand. I have no doubt she will be invaluable to our team as we progress through the next phase of our transformation.”
According to Bergmann, the refinancing puts the Missouri-based Save A Lot in a better position to focus on growth initiatives. Initiatives include Save A Lot’s plan to renovate and modernize all of its units by 2024 in partnership with its independent store owners.
“As we work to bring more diverse perspectives to the team, Cathy’s skill set will enhance the operational acumen and depth of our board. Her insight and ability to partner with independent retailers, both current and potential, to drive profitable growth will be an important asset as we continue to execute against our strategic plan.” said Justin Shaw, chairman of the board, Save A Lot. “We are delighted to welcome Cathy to our board of directors.”
Prior to joining Riverside, Skula spent most of her career in multiple roles at Rent-A-Center, including president and CEO of Rent-A-Center Franchising International, the company’s wholly-owned franchise subsidiary.
Founded in 1977, Save A Lot has more than 850 stores in 32 states.