The Board can be contacted using one of the two methods below. and who do the programs serve? The PDC CVR will have a two-year term. All rights reserved. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. The Casa Ley CVR will have a four-year term. Albertsons Companies Foundation supports causes that impact our customers' lives. Mr. Donald has served as Co-Chairman of our Board since 2019. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. We look forward to working with Bob Miller and the rest of the Albertsons team as we proceed together on a path towards becoming an even stronger organization.". and expansion plans with unmatched service from expert local labor and management. Summary Programs + Results Financials Operations. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway Mr. Schumachers experience as a director of several public companies, and his deep understanding of accounting principles and risk management, expands the breadth of our Boards expertise in accounting and financial reporting oversight and risk management. KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden Submit Your Analyst Briefing Safeway Board of Director 1 Board of directors about GuideStar Pro. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden has been named chief executive officer (CEO) and Christian Garcia will be the new executive vice president (EVP) and chief financial officer (CFO), effective mid-October. Investors will be able to obtain a free copy of documents filed with the SEC at the SEC's website at http://www.sec.gov. WebB. About Safeway Inc. It is also anticipated that there will be a step up in Blackhawk's tax basis in assets which could generate approximately $30 million in cash tax savings per annum for Blackhawk. Vivek most recently served as CEO of PepsiCo Foods North America. Seafood prices up a tick; sales remain solid, Podcast: Mission complete? PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. Before joining PepsiCo in 2009, Vivek was a partner at McKinsey and Company, where he served various Fortune 100 companies bringing a strong focus on strategy and operations. George Charters Board Member Jun 1, 1998. 4/30/2023 1:10 PM. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the company’s board of directors, expanding the board from nine to 11 members. Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? We are excited about continuing this momentum as a combined organization. The initial go-shop period is 21 days. Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement. Mr. Schumacher has also served on the board of Warrior Met Coal, Inc., a leading producer and exporter of metallurgical coal for the global steel industry, since April 2017, Evertec Inc., a leading electronic transactions and technology company in Latin America, since 2015, Blue Bird Corporation since 2008, and as director of BlueLinx Holdings Inc., a distributor of building products, from 2004 to 2021. Petco elected Safeways SVP and CIO David Ching to its board of directors. Podcast: How long can the private brand streak last? Among other things, the Combined Entity's ability to achieve estimated price reductions from the transaction, as well as the timing of such reductions, will depend on the Combined Entity's ability to integrate its businesses in a timely fashion, including realizing synergies anticipated by reduction of duplicative systems and processes. Monitor your investments 24 hours a day, around the clock from around the globe. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Safeway is part of the Grocery Retail industry, and located in California, United States. Mr. Fennebresques extensive experience as a director of several public companies and history of leadership in the financial services industry brings corporate governance expertise and a diverse viewpoint to the deliberations of our Board. Established in 2006, AB Acquisition LLC ("Albertsons"), which operates ACME, Albertsons, Jewel-Osco, Lucky, Shaw's, Star Market and Super Saver, and stores under the United Family of stores, Amigos, Market Street and United Supermarkets, is working to become the favorite food and drug retailer in every market it serves. About Albertsons Any shareholder wishing to communicate with one or more Board members should address a written communication WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. For additional information please refer to Safeway's most recent Form 10-K, 10-Q and 8-K reports filed with the SEC. Email. 2014: Safeway : Announces Receipt of Requisite Consents for its Senior Notes Due 2017: PR. You have permission to edit this article. Cerberus has more than US $25 billion under management invested in four primary strategies: distressed securities & assets; control and non-control private equity; commercial mid-market lending and real estate-related investments. Ms. Wests proven track record of innovation and transformation across myriad facets of retail brings to our Board extensive food and retail industry experience. PLEASANTON, Calif. and BOISE, Idaho, March 6, 2014 /PRNewswire/ -- Safeway Inc. (NYSE: SWY) and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). Copyright 2023. If Safeway is unable to sell Casa Ley before the four-year expiration of the CVR, shareholders would receive a cash distribution equal to the after-tax fair market value of Safeway's interest in Casa Ley at such time. DELTA NEWS ON THE GO. Join us for The National Provisioners Top Poultry Trends Webinar and hear insights from Elancos technical experts regarding key market conditions impacting the poultry business. Mr. Dreiling has served as a director and Executive Chairman of Dollar Tree, Inc., a leading operator of discount variety stores, since March 2022 and was appointed Chief Executive Officer in January 2023. Steve Thomas works as a General Manager and Vice President of Information Technology at Safeway Philtech, which is a Custom Software & IT Services company with an estimated 115 employees. Property Development Centers and Casa Ley. On a present value basis over 15 years, this tax savings, resulting from future tax deductions, is valued at approximately $4.50 per Blackhawk share and $0.70 per Safeway share. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. About the Combined Company Chief Executive Officer & Director: 59: 2021: Sharon McCollam: President & Chief Financial Officer: 60: 2021: Anuj Dhanda: Chief Information Officer & Executive VP: WebSafeway: 1-800-SAFEWAY. Evaluate the most effective solutions with interactive exhibits from leading suppliers. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. WebThe company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique The right to receive any future payments with respect to the sales of PDC and/or Casa Ley, including with respect to the CVRs after the Closing of the Merger, will be contingent on a number of factors, including Safeway's ability to sell all or a portion of PDC and/or Casa Ley, and the amount of after-tax net proceeds realized. Thomas Nelson has been working as a Store Director at Safeway for 20 years. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. BrandSafway supports maintenance and refurbishment projects as well as new construction. about GuideStar Pro. Latham & Watkins LLP served as Safeway's outside legal counsel. Read More . He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. The board of directors selected Haag (left) for the leadership role after an intensive two-year process to identify the right person, according to WinCo. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. Latham & Watkins LLP served as Safeway's outside legal counsel. Get up-to-the-minute news sent straight to your device. No, it never stops, Kroger, Albertsons may need to divest even more stores, Thoughts on the Kroger, Albertsons merger (Part 3). The combined value of the transactions described above is expected to deliver a premium to Safeway's shareholders of 72% from one year ago, and 56% over the share price six months ago," said Robert Edwards, President & Chief Executive Officer of Safeway Inc. "Safeway has been focused on better meeting shoppers' diverse needs through local, relevant assortment, an improved price/value proposition and a great shopping experience that has driven improved sales trends. They are part of Information Technology Department and It also brings together two great organizations with talented management teams. Transamerica was acquired by Aegon in 1999. Mr. Galbato also served as President and CEO of Armstrong Floor Products and, prior to that, as CEO of Choice Parts. View all management team This profile has not been claimed. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. Contact the Board of Directors. More news: News in other languages on SAFEWAY INC. 2015: Mr. Galbatos proven track record as an executive and leader in multiple operational and strategic roles at a variety of public and private companies provides our Board with valuable insights into the Companys operational and organizational strategy and effectiveness. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. About Cerberus Capital Management, L.P. For more information about BrandSafway, visit www.brandsafway.com. The Blackhawk distribution is intended to maximize the value of Safeway's long-term investment in Blackhawk, which the Board determined to be in the best interests of Safeway, Blackhawk, and the shareholders of both companies. All Rights Reserved BNP Media. He currently serves on the board of Amgen Inc. and the Charles Schwab Corp. Oder was Safeways executive vice president of labor relations, human resources, legal and public affairs from 1993 to 2000. Mr. Galbato has served as Co-Chairman of our Board since 2021. Casa Ley is a private company, and does not publicly disclose financials. Highlight your management teams expertise. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." What are the organization's current programs, how do they measure success, The merger agreement includes a so-called "go-shop" period, during which Safeway, with the assistance of Goldman Sachs, its financial advisor, will actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals. As one of the largest grocery retailers in North America, we find that supporting hunger relief programs is a natural fit for us. By visiting this website, certain cookies have already been set, which you may delete and block. Gary Steadman is a Store Director at Safeway based in Pleasanton, California. He has also held various positions at First Boston Corporation, an investment bank acquired by Credit Suisse. Working together will enable us to create cost savings that translate into price reductions for our customers. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. We are excited about continuing this momentum as a combined organization. Safeway's existing indebtedness is contemplated to be repaid at closing, other than capital leases and the company's 5.00% Senior Notes due 2019, 3.95% Notes due 2020, 4.75% Senior Notes due 2021, 7.45% Debentures due 2027 and 7.25% Debentures due 2031. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Mr. Schumacher worked for 23 years at American National Can Corporation and American National Can Group, where he served as Executive Vice President and Chief Financial Officer from 1997 until his retirement in 2000, and Vice President, Controller and Chief Accounting Officer from 1985 until 1996. Robert Edwards and his team have done an outstanding job in positioning Safeway's core business for success, by investing in its stores and creating innovative strategic marketing programs that contribute to shareholder value. The company's common stock is traded on the New York Stock Exchange under the symbol SWY. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. After submitting your request, you will receive an activation email to the requested email address. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. WebSelected Safeway Board of Directors: [7] Mohan Gyani, Former President and Chief Executive Officer Mobility Services AT&T Wireless Services, Inc. Paul Hazen, Former Chairman and Chief Executive Officer Wells Fargo Raymond G. Viault, Former Vice Chairman General Mills Contact details 5918 Stoneridge Mall Road Pleasanton, CA He has been Chief Financial officer since 2015 and was 2023 Benzinga.com. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation, and operates 1,075 stores and 14 distribution centers in 29 states and employs approximately 115,000 associates. The people, governance practices, and partners that make the organization tick. BrandSafway has a strong financial position with significant liquidity, allowing it to pursue the significant organic and inorganic growth opportunities available in its markets, said Garcia. Formed in 2008, PDC is a wholly owned subsidiary of Safeway Inc., engaged in retail shopping center development and capitalizing on Safeway's core real estate competency. Get the latest local business news delivered FREE to your inbox weekly. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. Ms. West began her career at Kraft Foods and served in various capacities over the course of 21 years and was named its Chief Marketing Officer in 2007. Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald Kravit, Ethan Klemperer, Jay Schottenstein and Hersch Klaff were appointed as the directors of Safeway. Mr. Fennebresque has served as a senior advisor to Cowen Group Inc., a diversified financial services firm, since 2008, where he also served as its Chairman, President and Chief Executive Officer from 1999 to 2008. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). Executive Officer from May 2013 to April 2015, President and Chief Financial Officer from April 2012 to May 2013, and Executive Vice President and Chief Financial Officer from March 2004 to April 2012. This Safeway in a rich Bay Area enclave feels hostile.. He joined the Board of Directors on September 7, Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Benzinga does not provide investment advice. Mr. Wille has served as a director of NexTier Oilfield Solutions Inc., a provider of hydraulic fracturing, wireline technologies and drilling services, since March 2011. Combining these strong management teams will strengthen the ability of Safeway and Albertsons to deliver on a shared commitment to offering customers higher quality products at lower prices, which will undoubtedly yield positive results for all stakeholders in the business.". There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. WebSafeway has 7 board members and advisors, including Jack Sinclair. Ms. West has served on the boards of Hasbro, Inc. a global play and entertainment company, since June 2016 and Lowes Inc., a home improvement retailer, since April 2021. Click here to resend it.). Register now. Ms. Allen served in various leadership roles at Deloitte Touche Tohmatsu Limited during her 40 years of service, including as U.S. Chairman of Deloitte from 2003 until her retirement in May 2011. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. He most recently served as oil field services supplier Weatherfords CFO. No store closures are expected as a result of this transaction. Try a low commitment monthly plan today. The Merger is expected to close in the fourth quarter of 2014 following the satisfaction of customary closing conditions, including approval of the Merger by the holders of a majority of the outstanding shares of Safeway common stock and regulatory approvals including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The diversified network of retail assets, associated distribution centers and manufacturing assets will allow for a broader assortment of products, a more efficient distribution and supply chain, enhanced fresh and perishable offerings, and expanded private label alternatives for customers. During the extended time, Safeway would not be permitted to pay a dividend to its shareholders but shareholders would receive additional cash consideration equal to 6% per annum on the $32.50 per share cash price for the number of days that pass during the three month extension until closing. Participants in the Solicitation View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store Safeway does not intend to disclose developments with respect to the solicitation process unless and until its Board has made a decision with respect to any potential superior proposal. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. The initial go-shop period is 21 days. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. A-1 Banners will include Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Albertsons, ACME, Jewel-Osco, Lucky, Shaw's, Star Market, Super Saver, United Supermarkets, Market Street and Amigos. Do Not Sell or Share My Personal Information. The diversified network of retail assets, associated distribution centers and manufacturing assets will allow for a broader assortment of products, a more efficient distribution and supply chain, enhanced fresh and perishable offerings, and expanded private label alternatives for customers. Regular Quarterly Dividends Renda spent more Formed in 2008, PDC is a wholly owned subsidiary of Safeway Inc., engaged in retail shopping center development and capitalizing on Safeway's core real estate competency. Gary Steadman's Phone Number and Email Last Update. The FNIH could not have launched I-SPY 2 without the generous contributions from The Safeway Foundation, said Dr. Scott Campbell, Former Executive Director and CEO of the FNIH. The FNIH could not have launched I-SPY 2 without the generous contributions from The Safeway Foundation, said Dr. Scott Campbell, Former Executive Director and CEO of the FNIH. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Schulte Roth & Zabel LLP served as lead outside legal counsel to Albertsons, Cerberus and the investor group, and Dechert LLP, Schulte Roth & Zabel LLP and Baker Botts LLP served as outside legal counsel on antitrust matters. Safeway : Board Of Directors Declares Quarterly Dividend: PR. Markets never sleep, and neither does Bloomberg News. They are part of Read More Cameron Thistle's Phone Number and Email Last Update 4/30/2023 6:28 AM Email c***@safeway.ca Engage via Email Contact Number (***) ***-**** Engage via Phone