However, the strong fourth-quarter earnings have set groundwork for its plans for transformation this year, said CEO Craig Herkert.

FORBES: Supervalu Surprised By Q4 Earnings, Bumps Up Expectations

Herkert, who was brought in just three years ago, was previously president and CEO of the Americas for Wal-Mart ( WMT).

FORBES: Connect

The most surprising thing about the mess at Supervalu ( SVU), which switched out CEOs this week, is the credentials of the departing Craig Herkert.

FORBES: Connect