View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store 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. 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. About Us - Southern California Employee Association - Weebly DELTA NEWS ON THE GO. Safeway 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. , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. Gary Steadman is a Store Director at Safeway based in Pleasanton, California. 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. ", Respond: Write a letter to the editor | Write a guest opinion. 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. Has the board conducted a formal, written self-assessment of its performance within the past three years? Board of Directors Distribution of Blackhawk Shares Property Development Centers and Casa Ley This organization is required to file an IRS Form 990 or 990-EZ. Safeway was not a one man band and the acts were not ratified by Safeways board of directors. 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. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. Get up-to-the-minute news sent straight to your device. The people, governance practices, and partners that make the organization tick. He spent 14 years with General Electric, during which time he served in several operating and finance leadership positions within various industrial divisions and as President and CEO of Coregis, a GE Capital company. 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. 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. Our stores provide the opportunity to mobilize funding and create awareness in our neighborhoods through our employees' passion, partnerships with our vendors, and generous contributions by our customers. 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. Seafood prices up a tick; sales remain solid, Podcast: Mission complete? 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 Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. WebRobert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. He joined Transamerica in 1979 and held various positions before becoming CEO in 1991 and chairman in 1995. Investors - Governance - Board of Directors - Albertsons 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. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. 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. 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. Registered in England and Wales. BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & 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. 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. Participants in the Solicitation 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. Do Not Sell or Share My Personal Information. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. 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. Garcia is a three-time public company CFO with experience across all aspects of the financial function. 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Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. Working together will enable us to create cost savings that translate into price reductions for our customers. WebB. 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. 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. Evaluate the most effective solutions with interactive exhibits from leading suppliers. Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. Contact Us Ms. West began her career at Kraft Foods and served in various capacities over the course of 21 years and was named its Chief Marketing Officer in 2007. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. 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. He has also held various positions at First Boston Corporation, an investment bank acquired by Credit Suisse. Safeway : Board Of Directors Declares Quarterly Dividend: PR. 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. The majority pay is between $68,369 to $87,906 per year. Safeway undertakes no obligation (and expressly disclaims any such obligation) to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 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? P.O. About Albertsons 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. Mr. Fennebresque has been a member of our Board since 2015. 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. Cameron Thistle's Phone Number and Email Last Update. 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. 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. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. Mr. Fennebresque has served as a senior advisor to Cowen Group Inc., a diversified financial services firm, since 2008, where he also served as its Chairman, President and Chief Executive Officer from 1999 to 2008. Additional Information and Where to Find It 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. general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). 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.
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