Board of Directors about GuideStar Pro. Ceridian Leadership | Global HCM Company Mr. Gibson has been a member of our Board since 2018. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. Podcast: How long can the private brand streak last? WebB. Kim 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. You can sign up for additional alert options at any time. about GuideStar Pro. WebALBERTSONS COMPANIES FOUNDATION. 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. 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. Petco elected Safeways SVP and CIO David Ching to its board of directors. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined 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. Read More . Investors - Governance - Board of Directors - Albertsons 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.". 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.". Safeway's current Chief Financial Officer is Randy N Anderson. Vivek Sankaran Chief Executive Officer and Director. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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. 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 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. Advisors We are confident that Karl and Christian, along with our deeply committed management team and the best employees in the industry, are well positioned to drive BrandSafways continued leadership in the sector.. 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. 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. 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. WebSafeway has 7 board members and advisors, including Jack Sinclair. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. 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. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Copyright 2023. 2023 Benzinga.com. Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. The merger agreement was unanimously approved by the Board of Directors of Safeway. PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. He joined Transamerica in 1979 and held various positions before becoming CEO in 1991 and chairman in 1995. Mr. Galbato also served as President and CEO of Armstrong Floor Products and, prior to that, as CEO of Choice Parts. Robert Edwards - Member of the Board of Directors 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. 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) Safeway - Contacts, Employees, Board Members, Advisors 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. The initial go-shop period is 21 days. 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. He most recently served as oil field services supplier Weatherfords CFO. Working together will enable us to create cost savings that translate into price reductions for our customers. 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. WebSafeway: 1-800-SAFEWAY. The people, governance practices, and partners that make the organization tick. Ms. Wests proven track record of innovation and transformation across myriad facets of retail brings to our Board extensive food and retail industry experience. George Charters Board Member Jun 1, 1998. 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. RICHARD W. DREILING 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 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. Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Acquisition Funding 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. Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. 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. 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. Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. Additional Information and Where to Find It The PDC CVR will have a two-year term. Greenhill & Co. has also served as financial advisor to Safeway. Board of Directors Casa Ley is a private company, and does not publicly disclose financials. 11555 Dublin Canyon Rd The Albertsons Companies Foundation, Email contact available with a Pro subscription. Robert Edwards A verification email has been sent to you. 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. Learn More Latham & Watkins LLP served as Safeway's outside legal counsel. Keep reading with a digital access subscription. 2014: Empire : Safeway acquisition boosts Sobeys owner Empire's profit: RE. 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. Galbato has served as Co-Chairman of our Board since 2021. 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 No store closures are expected as a result of this transaction. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Box 3001. Click on the link in that email 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. Found email listings include: c***@safeway.ca. Cerberus has more than US $25 billion under management invested in four primary strategies: distressed securities & assets; control and non-control private equity; commercial mid-market lending and real estate-related investments. BrandSafway has a strong financial position with significant liquidity, allowing it to pursue the significant organic and inorganic growth opportunities available in its markets, said Garcia. Four powerful questions that require reflection about what really matters - results. 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 COMPANIES FOUNDATION - GuideStar Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." Edwards previously held several executive level positions with Safeway Inc., including President and Chief. Delta Board of Directors Names Vasant Prabhu as Newest Member. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique Item 10. Mr. Donald has served as Co-Chairman of our Board since 2019. 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. Kevin Turner (born April 3, 1965) is an American businessman and investor who is currently the chairman of Zayo Group and the vice chairman of Albertsons / Safeway Inc. Board of Directors 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. 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. Learn about the most recent outbreaks, contaminants, and regulations from leading subject matter experts. Markets never sleep, and neither does Bloomberg News. They used to work at Safeway. BrandSafway supports maintenance and refurbishment projects as well as new construction. He will retire from Visa on Sept. 30. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. 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. 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. 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. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. Overnight on Wall Street is morning in Europe. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. Gary Steadman's Phone Number and Email Last Update. Managing Director - $601,766 See Other Titles. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. 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. 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. Supermarket News is part of the Informa Connect Division of Informa PLC. You must click the activation link in order to complete your subscription. 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. 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. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. 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. Sign in. 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. Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. Safeway CEO, Founder, Key Executive Team, Board of Registered in England and Wales. 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 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. 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. Greenhill & Co. has also served as financial advisor to Safeway. By visiting this website, certain cookies have already been set, which you may delete and block. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. DELTA NEWS ON THE GO. 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SAFEWAY INC 1325 Cobb International Drive, Ste. Director Ching, 52, has been with Safeway since 1994. 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. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 2013. Property Development Centers and Casa Ley. A replay of the call will be archived at www.Safeway.com. About the Combined Company Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. No store closures are expected as a result of this transaction. aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. 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. 250-483-1600. 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. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. 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. Ms. West has served on our Board since 2020 and currently serves as a Senior Advisor for McKinsey & Company.