Sign in. Delta Board of Directors Names Vasant Prabhu as Newest Member. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 2013. 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. This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. 4/30/2023 1:10 PM. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. 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. WebSafeway has 1 board of directors, including George Morrow. If it is your nonprofit, add a problem overview. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The Board can be contacted using one of the two methods below. Safeway's shares of Blackhawk are contemplated to be distributed pro-rata to the shareholders, with a current value of $3.95 per Safeway share based on the closing price of Blackhawk's common stock of $25.06 per share on March 5, 2014 and a diluted share count at Safeway of approximately 235 million shares. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the shareholders of Safeway in connection with the proposed acquisition will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. More news: News in other languages on SAFEWAY INC. 2015: Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. 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 AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled by a Cerberus A replay of the call will be archived at www.Safeway.com. WebThe company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. 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. For more information, please visit www.Safeway.com. The initial go-shop period is 21 days. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. The majority pay is between $68,369 to $87,906 per year. Gary Steadman has been working as a Store Director at Safeway for 7 years. If the PDC sale and/or Casa Ley sales are not completed by the closing of the Merger, Safeway shareholders will receive a non-transferable contingent value right (a "CVR"), which will provide shareholders with their pro-rata share of the net proceeds from the PDC and/or Casa Ley sales, as applicable, subject to the terms and conditions of the CVRs. PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. Learn more 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. Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. 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. Supermarket News is part of the Informa Connect Division of Informa PLC. WebOur Board of Directors Ann M. Sardini Chair of the Board (Term Expires 2023) Mark R. Hunter (Term Expires 2025) Linda K. Massman (Term Expires 2025) Steven Oakland (Term Expires 2024) Scott D. Ostfeld (Term Expires 2023) Jill A. Rahman (Term Expires 2024) Joseph E. Scalzo (Term Expires 2024) Jean E. Spence (Term Expires 2023) The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. The Casa Ley CVR will have a four-year term. 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"). Mr. Schumacher has served as a member of our Board since 2015. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Ching, 52, has been with Safeway since 1994. Four powerful questions that require reflection about what really matters - results. 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." 250-483-1600. Please check your inbox in order to proceed. 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.". He joined the Board of Directors on September 7, He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Additionally, shareholders will have the right to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share. Mr. Turners strategic and operational leadership skills and expertise in online worldwide sales, global operations, supply chain, merchandising, branding, marketing, information technology and public relations provide our Board with valuable insight relevant to our business. Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? 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. WebMr. Prior to joining Cerberus in 2009, Mr. Galbato served as President and CEO of the Controls Division of Invensys plc, a multinational engineering and information technology company, and President of Professional Distribution and Services at The Home Depot, the largest home improvement retailer in the United States. Property Development Centers and Casa Ley From 2012 to 2014, Ms. West served as Executive Vice President & Chief Category and Marketing Officer of Mondelez International, Inc., the snack foods division spun off from Kraft Foods, Inc. in 2012. 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. We are excited about continuing this momentum as a combined organization. 1325 Cobb International Drive, Ste. 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. On a national basis, we fund only organizations working in the area of Hunger through our Nourishing Neighbors Campaign. Prior to Hersheys, Ms. West was at J.C. Penny Company, Inc., an American department store chain, after having served on its board from November 2005 to May 2015. If the sales of PDC and/or Casa Ley are completed prior to the closing of the Merger, the net proceeds from these sales will be paid to shareholders at or before the closing of the Merger in a special dividend. 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. 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. 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. 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. WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Transamerica was acquired by Aegon in 1999. Go-Shop Period Regular Quarterly Dividends 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. WebSteve Burd is Former Chairman/CEO at Safeway Inc. See Steve Burd's compensation, career history, education, & memberships. Do Not Sell or Share My Personal Information. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. By visiting this website, certain cookies have already been set, which you may delete and block. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Prior to that, he served as the company's president and chief operating officer, a position he was named to in 2016. All Rights Reserved BNP Media. From its headquarters in New York City and large network of affiliate and advisory offices in the US, Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple sectors, through multiple investment strategies in countries around the world. It also brings together two great organizations with talented management teams. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." WebThis Proxy Statement is furnished to our stockholders on behalf of the Board of Directors of Safeway Inc., a Delaware corporation (Safeway or the Company), in connection with Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Mr. Galbato is the Chief Executive Officer of Cerberus Operations and Advisory Company, LLC. Kevin Turner (born April 3, 1965) is an American businessman and investor who is currently the chairman of Zayo Group and the vice chairman of Albertsons / Safeway Inc. 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. 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. WebALBERTSONS COMPANIES FOUNDATION. Ms. West provides our Board with expertise in marketing, brand building and strategic and operational planning for consumer-focused companies. 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. BrandSafway supports maintenance and refurbishment projects as well as new construction. Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. Need the ability to download nonprofit data and more advanced search options? A-1 WebSafeway has 7 board members and advisors, including Jack Sinclair. 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. On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. Contact. Herringer is the chairman and former chief executive officer of Transamerica Corp., a financial services company. 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. Mr. Fennebresque has been a member of our Board since 2015. Thomas Nelson has been working as a Store Director at Safeway for 20 years. Item 10. This document may be deemed to be solicitation materials in respect of the proposed acquisition of Safeway by AB Acquisition. 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. 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. Additionally, Mr. Wille served on the board of Tower International, Inc., a leading manufacturer of engineered automotive structural metal components and assemblies, from September 2010 to October 2021. For more information, please visit www.Albertsons.com. By closing this message or continuing to use our site, you agree to the use of cookies. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. The Casa Ley CVR will have a four-year term. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. 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. 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. KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden Latham & Watkins LLP served as Safeway's outside legal counsel. 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. For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. 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
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