safeway board of directors

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. 4/30/2023 1:10 PM. About Albertsons 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. Turner served as President and Chief Executive Officer of Core Scientific, an emerging leader in blockchain and artificial intelligence infrastructure, hosting, transaction processing and application development, from July 2018 to May 2021. 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. 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. Contact. Latham & Watkins LLP served as Safeway's outside legal counsel. After submitting your request, you will receive an activation email to the requested email address. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions. Vivek has an MBA from the University of Michigan, a master's degree in manufacturing from Georgia Institute of Technology and a bachelor's degree in mechanical engineering from the Indian Institute of Technology in Chennai. 2014: Empire : Safeway acquisition boosts Sobeys owner Empire's profit: RE. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Safeway is part of the Grocery Retail industry, and located in California, United States. Vivek Sankaran Chief Executive Officer and Director. 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." WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. Vivek joined Albertsons Companies, Inc. in April 2019 and serves as the companys Chief Executive James L. Donald Co-chair. Safeway : Board Of Directors Declares Quarterly Dividend: PR. Managing Director - $601,766 See Other Titles. Benzinga does not provide investment advice. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. Sharon L. Allen Director. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. 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.". Has the board conducted a formal, written assessment of the chief executive within the past year ? ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. Ankeny, IA 50021. The monetization of its 49% equity interest in Mexico-based food and. Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. A subscription helps you access more of the local stories that keep you connected to the community. 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. 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 There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. 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'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. Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. Value to Safeway Shareholders 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.". 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. Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. Plus expansion candidates and more, Tucson restaurant lands No. There can be no assurance that this process will result in a superior proposal. PDC's portfolio consists of 25 properties with an estimated three million square feet, and is comprised of 11 operating assets, nine projects under construction, and five projects in the due diligence and entitlement phases. 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. 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. Petco elected Safeways SVP and CIO David Ching to its board of directors. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. Ms. Allen has been a member of our Board since 2015. 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. 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. 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 merger agreement was unanimously approved by the Board of Directors of Safeway. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. Keep reading with a digital access subscription. They are part of Information Technology Department and Need the ability to download nonprofit data and more advanced search options? To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts." aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. We are excited about continuing this momentum as a combined organization. Mr. Gibson serves on various private boards and his knowledge of capital markets enhances the ability of our Board to make prudent financial judgments and provides our Board insight into and understanding of our financial performance and plan. 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 agreement was unanimously approved by the Board of Directors of Safeway. Forward-Looking Statements 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Mr. Galbato also served as President and CEO of Armstrong Floor Products and, prior to that, as CEO of Choice Parts. 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. 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. Has the board conducted a formal, written self-assessment of its performance within the past three years? Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. If you are interested in partnering with us to eradicate hunger, please fill out an application below. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. Our stores provide the opportunity to mobilize funding and create awareness in our neighborhoods through our employees' passion, partnerships with our vendors, and the generous contributions by our customers. Number 8860726. This filing does not constitute a solicitation of any vote or approval. Through a network of 340 strategic locations across 30 countries and more than 38,000 employees, BrandSafway delivers a full range of forming, shoring, scaffolding, work access and industrial service solutions. Mr. Willes experience in the financial and private equity industries, and his in-depth knowledge of the Company and industry, are valuable to our Boards understanding of the Company, its strategic plan, and its financial performance. 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 WebSafeway has 7 board members and advisors, including Jack Sinclair. Connect and network with a community of food safety professionals throughout the supply chain. Property Development Centers and Casa Ley. 4/30/2023 6:28 AM. Prior to that, Mr. Donald served as our President and Chief Executive Officer from September 2018 to April 2019 and before then as our President and Chief Operating Officer from March 2018 to September 2018. Edwards, 57, will also join the company's Board of Directors. He most recently served as oil field services supplier Weatherfords CFO. Safeway has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. Please check your inbox in order to proceed. Mr. Turner has served as our Vice Chairman since February 2020, after serving as Vice Chairman and Senior Advisor to the Chief Executive Officer from August 2017 to February 2020. 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. 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. 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. Property Development Centers and Casa Ley 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 WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 2013. WebBoard of Directors. 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. , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. What are the organization's current programs, how do they measure success, One of the most feared players in the NFL, the soft-spoken Ndamukong Suh has amassed an impressive real estate portfolio and hopes to use property to close the wealth gap for people of color. 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. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. 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. Garcia is a three-time public company CFO with experience across all aspects of the financial function. 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. 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Box 3001. Thomas Nelson has been working as a Store Director at Safeway for 20 years. Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. 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. WebSafeway: 1-800-SAFEWAY. WebB. Safeway Inc., which operates Safeway, Vons, Pavilion's, Randall's, Tom Thumb, and Carrs stores, is a Fortune 100 company and one of the largest food and drug retailers in the United States with sales of $36.1 billion in 2013. AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled by a Cerberus He has been Chief Financial officer since 2015 and was Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. George Charters Board Member Jun 1, 1998. Visit our updated. About Safeway Inc. At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. 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. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? You can sign up for additional alert options at any time. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Subscribe and follow. 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. Try a low commitment monthly plan today. Jack Sinclair Board Member. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. 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. Its intentional. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. 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. 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 Edwards previously held several executive level positions with Safeway Inc., including President and Chief. Four powerful questions that require reflection about what really matters - results. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Register now. It also brings together two great organizations with talented management teams. For more information, please visit www.Safeway.com. Joe leads the companys ambitious innovation strategy, designed to ensure its innovations continue to Copyright 2023. He co-led the firms North American purchasing and supply management practice and was on the leadership team of the North American retail practice. AB Acquisition is the owner of Albertson's LLC and New Albertson's, Inc. (collectively "Albertsons") and is controlled by a Cerberus Capital Management, L.P. ("Cerberus")-led investor group, which also includes Kimco Realty Corporation (NYSE:KIM), Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. The initial go-shop period is 21 days. 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. A replay of the call will be archived at www.Safeway.com. This Safeway in a rich Bay Area enclave feels hostile.. Mr. Fennebresque has been a member of our Board since 2015. 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Mr. Donald has served as Co-Chairman of our Board since 2019. Sign in. Acquisition Funding Safeway Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. 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. He will retire from Visa on Sept. 30. He has been Chief Financial officer since 2015 and was 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." and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). AB Acquisition is the owner of Albertson's LLC and New Albertson's, Inc. (collectively "Albertsons") and is controlled by a Cerberus Capital Management, L.P. ("Cerberus")-led investor group, which also includes Kimco Realty Corporation. 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. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. Monitor your investments 24 hours a day, around the clock from around the globe. Albertsons' Chief Executive Officer Bob Miller stated, "This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country. 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. 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. 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A-1 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. 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.". Already have a GuideStar Account? Registered in England and Wales. 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. Submit Your Analyst Briefing Safeway Board of Director 1 Board of directors 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. 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. Chan Galbato Co-chair. "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. Investor Conference Call The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald 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." 1 on Yelp's SW best eateries, Green Valley bite reminder that it's rattler season in Tucson, Yentzer booted from ballot in race for Tucson mayor, Award-winning journalist takes helm of Arizona Daily Star, state news operations, Threats cause Catalina Foothills School District to cancel meeting, 40 fun events happening in Tucson this weekend April 27-30 , Northern lights spotted over Tucson after powerful solar activity, Arizona coach Tommy Lloyd says Wildcats are 'in great shape' despite current holes in roster, Tucson to study creating city-run electric utility; TEP opposed, Pac-12 basketball picks: Soon-to-depart USC is early league favorite; Arizona slotted 3rd, Tucson Opinion: Confused about Prop 412? 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. No store closures are expected as a result of this transaction. 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. 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. Ms. West has served on our Board since 2020 and currently serves as a Senior Advisor for McKinsey & Company. 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. For more information, please visit www.Albertsons.com. Highlight your management teams expertise. We are pleased to have these talented leaders join the BrandSafway team, said John Krenicki, chairman of the board and acting CEO. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. 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.

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