You can find information about Safeway's executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 28, 2013 and in its definitive proxy statement filed with the SEC on Schedule 14A on April 1, 2013. 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. He will retire from Visa on Sept. 30. 2014: Empire : Safeway acquisition boosts Sobeys owner Empire's profit: RE. The people, governance practices, and partners that make the organization tick. 4/30/2023 6:28 AM. Kenneth Oder Board Member. 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. 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. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald 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. 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. 250-483-1600. WebBoard of Directors. He has been Chief Financial officer since 2015 and was Chief Executive Officer & Director: 59: 2021: Sharon McCollam: President & Chief Financial Officer: 60: 2021: Anuj Dhanda: Chief Information Officer & Executive VP: Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. 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." The merger agreement was unanimously approved by the Board of Directors of Safeway. 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. Item 10. On a national basis, we fund only organizations working in the area of Hunger through our Nourishing Neighbors Campaign. 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. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. "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. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. "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. 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. Safeway Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. 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. 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. Go-Shop Period Has the board conducted a formal, written assessment of the chief executive within the past year ? View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. 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. 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 He has also held various positions at First Boston Corporation, an investment bank acquired by Credit Suisse. 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. 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. about GuideStar Pro. about GuideStar Pro. 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. 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 Global Corporate Headquarters Any shareholder wishing to communicate with one or more Board members should address a written communication to get more GuideStar Nonprofit Profile data today! Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. About Albertsons View all management team This profile has not been claimed. The merger agreement was unanimously approved by the Board of Directors of Safeway. There can be no assurance that this process will result in a superior proposal. About Safeway Inc. Delta Board of Directors Names Vasant Prabhu as Newest Member. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. 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. For more information, please visit www.Albertsons.com. P.O. Mr. Schumachers experience as a director of several public companies, and his deep understanding of accounting principles and risk management, expands the breadth of our Boards expertise in accounting and financial reporting oversight and risk management. By visiting this website, certain cookies have already been set, which you may delete and block. 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. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts." Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. Mr. Fennebresques extensive experience as a director of several public companies and history of leadership in the financial services industry brings corporate governance expertise and a diverse viewpoint to the deliberations of our Board. Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. 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. 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. 2023 Benzinga.com. Submit Your Analyst Briefing Safeway Board of Director 1 Board of directors 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. WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. WebRobert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Latham & Watkins LLP served as Safeway's outside legal counsel. Safeway, Albertson's announce merger agreement, Tucson's west-side resort, Starr Pass, sold for $110 million, Cocktails on a train car and boutique bowling coming to Tucson, Pac-12 mailbag: Is an Arizona departure worst-case scenario for Pac-12? Read More . Learn More 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. 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. No store closures are expected as a result of this transaction. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Want to see how you can enhance your nonprofit research and unlock more insights? Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. We are excited about continuing this momentum as a combined organization. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. Safeway's current Chief Financial Officer is Randy N Anderson. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Casa Ley is a private company, and does not publicly disclose financials. 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. 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. 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. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. 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. Monitor your investments 24 hours a day, around the clock from around the globe. Ankeny, IA 50021. 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. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. 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. A replay of the call will be archived at www.Safeway.com. Fessenden brings 25 years of leadership experience in complex service-based businesses, serving as MB Aerospaces president and chief operating officer, CHC Helicopters CEO, and head of GEs $8 billion Power Generation Services unit. WebSafeway: 1-800-SAFEWAY. 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. They are part of Information Technology Department and AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled bya Cerberus Capital Management, L.P.-led investor group, which also includes Kimco Realty Corporation, Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. 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. He will retire from Visa on Sept. 30. The merger agreement was unanimously approved by the Board of Directors of Safeway. Latham & Watkins LLP served as Safeway's outside legal counsel.
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