safeway board of directors

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. 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. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. 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." Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. 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 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. 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. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Mr. Wille has also been a member of Cerberus Private Equity Investment Committee since 2016. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. WebBoard N-1 President & CEO Vivek Sankaran Move Vice Chairman Of The Board Kevin Turner Move Co-Chairman Jim Donald Move Co-Chairman of the Board Chan Galbato We are excited about continuing this momentum as a combined organization. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. Ms. Allen currently serves on the board of Bank of America Corporation and served as a director of First Solar, Inc., a manufacturer of solar panels and a provider of utility-scale PV power plants and supporting services from 2013 to 2022. He also served as a member of the Federal Accounting Standards Advisory Board from 2002 through June 2012. The initial go-shop period is 21 days. 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. Copyright 2023. Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. Item 10. and expansion plans with unmatched service from expert local labor and management. Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? 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. WebMr. aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. 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.". Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. 1325 Cobb International Drive, Ste. 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. 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. Safeway is part of the Grocery Retail industry, and located in California, United States. Participants in the Solicitation Get the latest local business news delivered FREE to your inbox weekly. (Don't see an email in your inbox? There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. BrandSafway supports maintenance and refurbishment projects as well as new construction. Garcia is a three-time public company CFO with experience across all aspects of the financial function. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. 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. The estimated values for PDC and Casa Ley are based on analyses that Safeway has performed with the help of financial advisors, valuations from independent third parties and market information. Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. 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. Learn about the organization's key goals, strategies, capabilities, and progress. 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. 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. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway If it is your nonprofit, add a problem overview. 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 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. 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 PDC CVR will have a two-year term. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway 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. Delta Board of Directors Names Vasant Prabhu as Newest Member. WebMember of the Board of Directors, Caseys General Stores, Inc. since 2014 (also member of the Compensation (Chair) Committee; Member of the Board of Directors, International View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store No, it never stops, Kroger, Albertsons may need to divest even more stores, Thoughts on the Kroger, Albertsons merger (Part 3). Global Corporate Headquarters Thomas Nelson has been working as a Store Director at Safeway for 20 years. Edwards previously held several executive level positions with Safeway Inc., including President and Chief. View all management team This profile has not been claimed. 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. Regular Quarterly Dividends KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden 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. to get more GuideStar Nonprofit Profile data today! Jack Sinclair Board Member. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. 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. Safeway will soon be initiating a process to sell PDC. WebALBERTSONS COMPANIES FOUNDATION. 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. 250-483-1600. Need the ability to download nonprofit data and more advanced search options? 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. and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). Mr. Fennebresque has been a member of our Board since 2015. Our stores nationally provide the opportunity to mobilize funding and create awareness in our neighborhoods. 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. Safeway and Albertson's announced Thursday they have entered into a definitive merger agreement. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Acquisition Funding PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. 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. Gary Steadman is a Store Director at Safeway based in Pleasanton, California. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. This number represents the median, which is the midpoint of the ranges from our proprietary Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Our current Board of Directors consists of seven members. , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. The monetization of its 49% equity interest in Mexico-based food and. Safeway and its directors, executive officers and certain other members of management and employees of Safeway may be deemed "participants" in the solicitation of proxies from shareholders of Safeway in favor of the proposed merger. Ms. Allen is a Certified Public Accountant (Retired), and her extensive accounting and audit experience broadens the scope of our Boards oversight of our financial performance and reporting. 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. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique Mr. Galbato has served as Co-Chairman of our Board since 2021. WebSteve Burd is Former Chairman/CEO at Safeway Inc. See Steve Burd's compensation, career history, education, & memberships. Chan Galbato Co-chair. 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. A subscription helps you access more of the local stories that keep you connected to the community. Please check your inbox in order to proceed. Mr. Gibson has served as the Chief Investment Officer of Centaurus Capital LP, a private investment partnership since 2011, and Investment Manager for the Laura and John Arnold Foundation since 2011. He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. Timing and Closing Conditions This filing does not constitute a solicitation of any vote or approval. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond Safeway's control. 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. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. "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. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. We work hand in hand with local non-profit organizations to serve people in our neighborhoods where we operate. 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. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. DELTA NEWS ON THE GO. If Safeway is unable to sell PDC prior to the second anniversary of the closing of the Merger, no payment will be made to Safeway shareholders with respect to PDC and the CVR will expire valueless. 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. The company operates 1,335 stores in 20 states and the District of Columbia, 13 distribution centers and 20 manufacturing plants, and employs approximately 138,000 employees. 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. 2023 Benzinga.com. He joined the Board of Directors on September 7, 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. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Box 3001. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Contact. 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) Found email listings include: c***@safeway.ca. 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. 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 Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. The company's common stock is traded on the New York Stock Exchange under the symbol SWY. As a result of the Merger, plus other actions to be taken by the Safeway Board of Directors as described below, including the separate sales of certain other primarily non-core assets, and the distribution of Blackhawk shares, Safeway shareholders are expected to receive total value estimated at $40 per share. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. 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. 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. No store closures are expected as a result of this transaction. Among her other leadership roles at Deloitte, Ms. Allen was partner and regional managing partner responsible for audit and consulting services for several Fortune 500 and large privately held companies. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. One SE Convenience Boulevard. These factors include: failure to obtain shareholder approval of the proposed merger; failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory or other approvals; failure to consummate or delay in consummating the transaction for other reasons; changes in laws or regulations; and changes in general economic conditions. Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. 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. Connect and network with a community of food safety professionals throughout the supply chain. Do Not Sell My Personal Data/Privacy Policy. Ms. West was involved with some of the food industrys most iconic brands such as Kraft Macaroni and Cheese, Oreo, and Maxwell House coffee during her tenure at Kraft Foods. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. Ankeny, IA 50021. What are the organization's current programs, how do they measure success, By closing this message or continuing to use our site, you agree to the use of cookies. 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 Mr. Wille has served as a member of our Board since 2020. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions.
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