and who do the programs serve? Seafood prices up a tick; sales remain solid, Podcast: Mission complete? Safeway Investors - Governance - Board of Directors - Albertsons Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. They used to work at 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. Highlight your management teams expertise. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. WinCo Foods tabs Grant Haag as Her leadership and corporate governance experience with large public companies is valuable to our Boards governance strategic planning, and risk management oversight. Item 10. Caseys - Governance Gary Steadman has been working as a Store Director at Safeway for 7 years. Thrifty Foods #106, 3030 Merchant Way Victoria, British Columbia V9B 0X1. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. It also brings together two great organizations with talented management teams. Mr. Donald has served as Co-Chairman of our Board since 2019. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. Podcast: How long can the private brand streak last? Try a low commitment monthly plan today. 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.". 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. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). There can be no assurance that this process will result in a superior proposal. The PDC CVR will have a two-year term. 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. Safeway will soon be initiating a process to sell PDC. Working together will enable us to create cost savings that translate into price reductions for our customers. Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement. 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. Do Not Sell My Personal Data/Privacy Policy. 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. About Albertsons 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. We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. We are pleased to have these talented leaders join the BrandSafway team, said John Krenicki, chairman of the board and acting CEO. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. 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. We are excited about continuing this momentum as a combined organization. Mr. Wille has also been a member of Cerberus Private Equity Investment Committee since 2016. From 2010 to 2012, Mr. Fennebresque served as chairman of Dahlman Rose & Co., LLC, an investment bank. Petco elected Safeways SVP and CIO David Ching to its board of directors. 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. Director 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. No store closures are expected as a result of this transaction. 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. 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. Vivek most recently served as CEO of PepsiCo Foods North America. By closing this message or continuing to use our site, you agree to the use of cookies. By visiting this website, certain cookies have already been set, which you may delete and block. Larree Renda | Board Member | Ross Stores, Inc. 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 Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. 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. A subscription helps you access more of the local stories that keep you connected to the community. "Albertsons has successfully transformed underperforming retail grocery stores into strong performers by focusing on enhancing the local customer experience," saidLenard Tessler, Co-Head of Global Private Equity and Senior Managing Director at Cerberus. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. Vivek joined Albertsons Companies, Inc. in April 2019 and serves as the companys Chief Executive Officer. Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. 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. Mr. Fennebresque has been a member of our Board since 2015. 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. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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. This organization is required to file an IRS Form 990 or 990-EZ. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. He joined Transamerica in 1979 and held various positions before becoming CEO in 1991 and chairman in 1995. WebSteve Burd is Former Chairman/CEO at Safeway Inc. See Steve Burd's compensation, career history, education, & memberships. 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. If you experience any issues with this process, please contact us for further assistance. Board of Directors Sign in. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. WebMr. Board of Directors 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. The people, governance practices, and partners that make the organization tick. The Board can be contacted using one of the two methods below. Contact Us Learn More Albertsons Companies Foundation supports causes that impact our customers' lives. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. 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. Sharon L. Allen Director. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Garcia is a three-time public company CFO with experience across all aspects of the financial function. 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. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Patricia H. Mueller, chief marketing officer and SVP, advertising and marketing for Atlanta-based The Home Depot Inc. from 2011 to 2016, was also elected to the board. 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. 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 At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. The company is well positioned for continued success and growth.. BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & Chief Executive Officer & Director: 59: 2021: Sharon McCollam: President & Chief Financial Officer: 60: 2021: Anuj Dhanda: Chief Information Officer & Executive VP: Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. Steve Burd, Safeway Inc: Profile and Biography Safeway's current Chief Financial Officer is Randy N Anderson. Jack Sinclair Board Member. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. Director Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. SAFEWAY INC - Annual Report (10-K) Item 10. Directors, 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. Shareholders are urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed acquisition or incorporated by reference in the proxy statement because they will contain important information about the proposed acquisition. There can be no assurance that this process will result in a superior proposal. 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. Gary Steadman is a Store Director at Safeway based in Pleasanton, California. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. 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. Albertsons and Safeway Complete Merger Transaction RICHARD W. DREILING 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. 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. 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 The merger agreement was unanimously approved by the Board of Directors of 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. Want to see how you can enhance your nonprofit research and unlock more insights? 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. 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. Board of Directors 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. About Cerberus Capital Management, L.P. Steven Burd - Wikipedia 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.". 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. We are excited about continuing this momentum as a combined organization. (Don't see an email in your inbox? P.O. Board of Directors 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"). Read More . 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. WebBoard of Directors 1 Safeway Management Team 20 Team Members Safeway has 20 executives. 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. The PDC CVR will have a two-year term. 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. You have permission to edit this article. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. They are part of Information Technology Department and 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 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. 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. You can sign up for additional alert options at any time. Safeway has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. For more information, please visit www.Albertsons.com. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. A-1 Mr. Galbato is the Chief Executive Officer of Cerberus Operations and Advisory Company, LLC. WebALBERTSONS COMPANIES FOUNDATION. This number represents the median, which is the midpoint of the ranges from our proprietary Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? 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.". SAFEWAY The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. Working together will enable us to create cost savings that translate into price reductions for our customers. 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. Mr. Wille has served as a member of our Board since 2020. The initial go-shop period is 21 days. 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 has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. Gary Steadman's Phone Number and Email Last Update. Contact. On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. 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. 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. 1325 Cobb International Drive, Ste. Golf's Greatest Holes: Golfing legend Paul McGinley takes television presenter Chris Hollins on a tour of the best golf courses in Ireland and Northern Ireland. WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 2013. No store closures are expected as a result of this transaction. Latham & Watkins LLP served as Safeway's outside legal counsel. The 25th annual Food Safety Summit is the industry's premier event connecting food safety professionals throughout the supply chain with timely, actionable information and practical solutions to improve food safety! Director 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. Safeway was not a one man band and the acts were not ratified by Safeways board of directors. All Rights Reserved BNP Media. 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. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. This filing does not constitute a solicitation of any vote or approval. 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. 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. 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) ", Respond: Write a letter to the editor | Write a guest opinion. By closing this message or continuing to use our site, you agree to the use of cookies. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions. 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. 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. He has been Chief Financial officer since 2015 and was This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. Ms. Wests proven track record of innovation and transformation across myriad facets of retail brings to our Board extensive food and retail industry experience. Ms. Allen also served as a member of the Global Board of Directors, Chair of the Global Risk Committee and U.S. Representative of the Global Governance Committee of Deloitte during this time. WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). We are excited about continuing this momentum as a combined organization. Transamerica was acquired by Aegon in 1999. WebSafeway has 7 board members and advisors, including Jack Sinclair. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. 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, 2. 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." 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.