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Safeway is part of the Grocery Retail industry, and located in California, United States. Email. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. 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. He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. Officers, directors, trustees, and key employees, Analyze a variety of pre-calculated financial metrics, Access beautifully interactive analysis and comparison tools, Compare nonprofit financials to similar organizations, Revenue and expense data for the current fiscal year, CEO, Board Chair, and Board of Directors information, *with the ability to download the data for 2020, 2019, 2018, 2017, 2016. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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. For more information, please visit www.Albertsons.com. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. If Safeway is unable to sell Casa Ley prior to the fourth anniversary of the Merger, Safeway shareholders will be entitled to receive the fair market value of Safeway's interest in Casa Ley at that time. All rights reserved. Transamerica was acquired by Aegon in 1999. View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store Robert Edwards is the former President and Chief Executive Officer of AB Acquisition LLC, a North American food and drug retail company, a position he held from Albertsons acquisition of Safeway Inc. in January 2015 to April 2015. These applications are considered throughout the year for invites to our annual RFP in the fall of each year. Prior to Centaurus, Mr. Gibson served as Senior Vice President of institutional asset management at Royal Bank of Canada from February 2008 until April 2011. The merger agreement allows Safeway to pay its regular quarterly dividends over the next 12 months, prior to closing, and to increase the dividend within certain limits, assuming the deal is closed during that time period. WebDirector - Chris Arlaud Director - Thom Brown Director - Tom Freeland Director - Cathy Kloos Director - Jeff Mason Director - Nicole Neumann Director - Debbie Portwood Director - Susan Probst Director - Cathleen Cox Stugard Director - Carla Thuney Director - Lisa Umali Advisor - Dian Emerson Advisor - Carolyn Wimberly 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. The sale of the assets of real-estate development subsidiary Property Development Centers, LLC ("PDC") comprised of its shopping center portfolio including certain related Safeway stores, and For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. You can find information about Safeway's executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 28, 2013 and in its definitive proxy statement filed with the SEC on Schedule 14A on April 1, 2013. 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. George Charters Board Member Jun 1, 1998. 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. Thrifty Foods #106, 3030 Merchant Way Victoria, British Columbia V9B 0X1. WebSafeway has 1 board of directors, including George Morrow. 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. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. No, it never stops, Kroger, Albertsons may need to divest even more stores, Thoughts on the Kroger, Albertsons merger (Part 3). 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. , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. DELTA NEWS ON THE GO. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. Over his ten-year career at PepsiCo, in addition to leading Frito-Lay, Vivek also served as the chief commercial officer for PepsiCo North America, Chief Customer Officer of Frito-Lay, and as the Senior Vice President of Strategy for PepsiCo. Safeway will soon be initiating a process to sell PDC. Supermarket News is part of the Informa Connect Division of Informa PLC. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 Cameron Thistle's Phone Number and Email Last Update. Our stores provide the opportunity to mobilize funding and create awareness in our neighborhoods through our employees' passion, partnerships with our vendors, and generous contributions by our customers. By visiting this website, certain cookies have already been set, which you may delete and block. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. Item 10. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. WebRobert Edwards holds 3 board and advisor roles including Member of the Board of Directors at TalentSky, Member of the Board of Directors at Target, and Member of the Board of Directors at Safeway. Contact. Safeway undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. WebMr. Latham & Watkins LLP served as Safeway's outside legal counsel. Mr. Galbato has served as Co-Chairman of our Board since 2021. This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. Contact the Board of Directors. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. About Cerberus Capital Management, L.P. The final ratio and the value of the Blackhawk shares will be determined at the time of the distribution and will depend on the market value of Blackhawk at that time and the number of diluted Safeway shares. The Merger will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees. 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. In connection with the completion of the Merger, it is expected that Safeway's distribution of Blackhawk shares will be taxable to Safeway and Safeway's shareholders. 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. The Merger will enable Albertsons and Safeway to implement operational best practices in order to offer customers an enhanced shopping experience and more competitive prices, while enabling the combined company to pursue industry-leading customer service in an increasingly competitive and dynamic marketplace. The combined value for Safeway shareholders who receive both a distribution of Blackhawk shares and the aggregate cash and contingent consideration in the Merger, based on Safeway's current estimates of the value of the contingent consideration, would represent a premium of 72 percent over Safeway's closing share price of $23.27 on March 6, 2013, one year ago; 56 percent over Safeway's closing price of $25.62 on September 6, 2013, six months ago; and 17 percent over Safeway's closing share price of $34.10 on February 18, 2014, the day before Safeway announced it was in discussions regarding a potential sale of the company. 5 things: Dollar stores are trading inflation for loyalty, Data security breach may have exposed Albertsons employee info, Trader Joes workers vote yes to a union in California, 5 things top news: Kroger hit with another lawsuit, 2023 Informa USA, Inc., All rights reserved, Snack idea might help lethargic seafood sales, Theres a sense for something good at IDBBA 2023. Connect and network with a community of food safety professionals throughout the supply chain. Want to see how you can enhance your nonprofit research and unlock more insights? Property Development Centers and Casa Ley. More news: News in other languages on SAFEWAY INC. 2015: The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. The estimated total pay for a Director at Safeway is $331,014 per year. For additional information please refer to Safeway's most recent Form 10-K, 10-Q and 8-K reports filed with the SEC. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. Kim Safeway was not a one man band and the acts were not ratified by Safeways board of directors. Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. 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WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. If it is your nonprofit, add a problem overview. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. Ms. West has served on our Board since 2020 and currently serves as a Senior Advisor for McKinsey & Company. GuideStar worked with BoardSource, the national leader Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. Ms. West previously served as Senior Vice President and Chief Growth Officer of The Hershey Company, one of the largest chocolate manufacturers in the world, from May 2017 to January 2020, during which time she drove Hersheys growth and marketing strategies as well as communication, disruptive innovation, research and development, and mergers and acquisitions. Chan Galbato Co-chair. 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 owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. Advisors (Don't see an email in your inbox? 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. 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. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. 2014: Safeway : Announces Receipt of Requisite Consents for its Senior Notes Due 2017: PR. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. There can be no assurance as to the value of PDC and/or Casa Ley or that Safeway shareholders will receive the amount of after-tax net proceeds estimated in this press release, or any amount. I am excited to join BrandSafway, a market leader with an outstanding team, a strong commitment to safety, and the broadest portfolio of services and products in the industry, said Fessenden. about GuideStar Pro. Get the latest local business news delivered FREE to your inbox weekly. Im looking forward to helping drive the next phase of the companys growth., With a commitment to safety as its foremost value, BrandSafway provides the broadest range of solutions with the greatest depth of expertise to the industrial, commercial and infrastructure markets. Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? 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. The majority pay is between $68,369 to $87,906 per year. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. The Merger will enable Albertsons and Safeway to implement operational best practices in order to offer customers an enhanced shopping experience and more competitive prices, while enabling the combined company to pursue industry-leading customer service in an increasingly competitive and dynamic marketplace. General Manager and Vice President of Information Technology at Safeway Philtech . On a national basis, we fund only organizations working in the area of Hunger through our Nourishing Neighbors Campaign. "Albertsons has successfully transformed underperforming retail grocery stores into strong performers by focusing on enhancing the local customer experience," said Lenard Tessler, Co-Head of Global Private Equity and Senior Managing Director at Cerberus. Mr. Fennebresque previously served on the boards of Ribbon Communications Inc., a provider of network communications solutions, Delta Tucker Holdings, Inc. (the parent of DynCorp International, a provider of defense and technical services and government outsourced solutions), and Rotor Acquisition Corp., a special purpose acquisition company, from November 2020 to June 2021. Gary Steadman's Phone Number and Email Last Update. Safeway and Albertson's announced Thursday they have entered into a definitive merger agreement. Read More . About the Combined Company Prior to joining ESH, Mr. Donald served as President, Chief Executive Officer and Director of Starbucks Corporation, a multinational chain of coffeehouses and roastery reserves, President and Chief Executive Officer of regional food and drug retailer Haggen Food & Pharmacy, Chairman, President and Chief Executive Officer of regional food and drug retailer Pathmark Stores, Inc., and served in a variety of other senior and executive roles at Wal-Mart Stores, Inc., Safeway Inc. and Albertsons, Inc. Mr. Donald began his grocery and retail career in 1971 with Publix Super Markets, Inc. Mr. Donald has also served on the board of Nordstrom, Inc., a leading fashion retailer, since 2020. BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. 2014: Empire : Safeway acquisition boosts Sobeys owner Empire's profit: RE. Click here to resend it.). ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. 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. 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. You have permission to edit this article. 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. P.O. Prior to joining the Company, Mr. Donald served as Chief Executive Officer and Director of Extended Stay America, Inc., a large North American owner and operator of hotels, and its subsidiary, ESH Hospitality, Inc. from February 2012 to July 2015. For a 15-day period following the termination of the go-shop period, Safeway will be permitted to continue discussions and enter into or recommend a transaction with any person that submitted a qualifying proposal during the 21-day period. 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.". Safeway : Board Of Directors Declares Quarterly Dividend: PR. Overnight on Wall Street is morning in Europe. 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.". Mr. Fennebresque has served on the board of Ally Financial Inc., a financial services company, since May 2009, and BlueLinx Holdings Inc., a distributor of building products, since May 2013, including as Chairperson of BlueLinx since May 2016. All Rights Reserved BNP Media. 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. Together, we will be able to respond to local needs more quickly and deliver outstanding products at the lowest possible price, more efficiently than ever before. He will retire from Visa on Sept. 30. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. Try a low commitment monthly plan today. The final ratio and the value of the Blackhawk shares will be determined at the time of the distribution and will depend on the market value of Blackhawk at that time and the number of diluted Safeway shares. In connection with the proposed merger transaction, Safeway will file with the SEC and furnish to Safeway's shareholders a proxy statement and other relevant documents. The merger agreement was unanimously approved by the Board of Directors of Safeway. Safeway has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. They used to work at Safeway. In addition, investors may obtain a free copy of Safeway's filings with the SEC from Safeway's website at http://www.Safeway.com or by directing a request to: Safeway Inc., 5918 Stoneridge Mall Road, Pleasanton, California 94588, Attention: Investor Relations. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Between 1985 and 2002, Mr. Turner held several positions of increasing responsibility with Wal-Mart, including Executive Vice President and Global Chief Information Officer from 2001 to 2002. He also served as head of the corporate finance and mergers and acquisitions departments at UBS, a global financial services firm, and was a general partner and co-head of investment banking at Lazard Frres & Co, a leading financial advisory and asset management firm. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. In connection with the completion of the Merger, it is expected that Safeway's distribution of Blackhawk shares will be taxable to Safeway and Safeway's shareholders. WebSafeway has 7 board members and advisors, including Jack Sinclair. Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. AB Acquisition plans to fund the Merger in part with debt financing of approximately $7.6 billion, equity contributions from its current investors and their affiliates, partners and co-investors of approximately $1.25 billion, and cash on hand of Safeway. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member.