By visiting this website, certain cookies have already been set, which you may delete and block. Prior to Citadel, Mr. Turner served as COO of Microsoft Corporation, an American multinational technology corporation, from 2005 to 2016, and as CEO and President of Sams Club, an American chain of membership-only retail warehouse clubs owned and operated by Walmart Inc., from 2002 to 2005. 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. about GuideStar Pro. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. Sign in. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). Property Development Centers and Casa Ley Regular Quarterly Dividends There is no assurance that any payments will be made with respect to the sales of PDC and/or Casa Ley, including with respect to the CVRs after the closing of the Merger. 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. Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. A subscription helps you access more of the local stories that keep you connected to the community. Gary Steadman is a Store Director at Safeway based in Pleasanton, California. 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. AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled by a Cerberus If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. P.O. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. 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.. WebThis Proxy Statement is furnished to our stockholders on behalf of the Board of Directors of Safeway Inc., a Delaware corporation (Safeway or the Company), in connection with 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. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. 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. to get more GuideStar Nonprofit Profile data today! Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. Need the ability to download nonprofit data and more advanced search options? 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. WebSafeway. Ankeny, IA 50021. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 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. Ching, 52, has been with Safeway since 1994. More news: News in other languages on SAFEWAY INC. 2015: Property Development Centers and Casa Ley. Casa Ley is a private company, and does not publicly disclose financials. Subscribe and follow. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. Read More . 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. 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. 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. 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. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. 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. TalentSky Member of the Board of Directors Dec 2015 Target Member of the Board of Directors Safeway Member of the Board of Directors in nonprofit board leadership and governance, to create this section. Advisors BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & PLEASANTON, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the companys board of directors, expanding the board There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. They are part of Information Technology Department and 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. Sharon L. Allen Director. Register now. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts." 1325 Cobb International Drive, Ste. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. Mr. Galbato also served as President and CEO of Armstrong Floor Products and, prior to that, as CEO of Choice Parts. Mr. Turners strategic and operational leadership skills and expertise in online worldwide sales, global operations, supply chain, merchandising, branding, marketing, information technology and public relations provide our Board with valuable insight relevant to our business. Thrifty Foods #106, 3030 Merchant Way Victoria, British Columbia V9B 0X1. Seafood prices up a tick; sales remain solid, Podcast: Mission complete? 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. 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. 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. 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.". An RFP is released on an annual basis by invitation only. 4/30/2023 6:28 AM. WebSafeway has 7 board members and advisors, including Jack Sinclair. Submit Your Analyst Briefing Safeway Board of Director 1 Board of directors The call will be webcast live at www.Safeway.com. and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). 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. Value to Safeway Shareholders It also brings together two great organizations with talented management teams. The board of directors selected Haag (left) for the leadership role after an intensive two-year process to identify the right person, according to WinCo. Has the board conducted a formal, written assessment of the chief executive within the past year ? We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. Safeway will soon be initiating a process to sell PDC. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. Working together will enable us to create cost savings that translate into price reductions for our customers. Mr. Galbato has served as Co-Chairman of our Board since 2021. 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. 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. He will retire from Visa on Sept. 30. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. The call will be webcast live at www.Safeway.com. Albertsons Companies Foundation supports causes that impact our customers' lives. Connect and network with a community of food safety professionals throughout the supply chain. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. 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. PLEASANTON, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the companys board of directors, expanding the board from nine to 11 members. 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. Get the latest local business news delivered FREE to your inbox weekly. Want to see how you can enhance your nonprofit research and unlock more insights? The PDC CVR will have a two-year term. 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. The Merger does not alter Safeway's previously announced plan to distribute the remaining 37.8 million shares of Blackhawk stock that it owns to its shareholders in mid-April and prior to the completion of the Merger. Mr. Gibson has been a member of our Board since 2018. Distribution of Blackhawk Shares Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. 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. This document may be deemed to be solicitation materials in respect of the proposed acquisition of Safeway by AB Acquisition. Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. WebSafeway has 1 board of directors, including George Morrow. 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. 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. Overnight on Wall Street is morning in Europe. and expansion plans with unmatched service from expert local labor and management. Thomas Nelson has been working as a Store Director at Safeway for 20 years. Safeway will soon be initiating a process to sell PDC. There can be no assurance that this process will result in a superior proposal. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. By closing this message or continuing to use our site, you agree to the use of cookies. Additionally, Mr. Wille served on the board of Tower International, Inc., a leading manufacturer of engineered automotive structural metal components and assemblies, from September 2010 to October 2021. View all management team This profile has not been claimed. 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. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. Mr. Fennebresque has been a member of our Board since 2015. "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. 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. He joined the Board of Directors on September 7, Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. 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." It also brings together two great organizations with talented management teams. Jack Sinclair Board Member. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. 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. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the shareholders of Safeway in connection with the proposed acquisition will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. A replay of the call will be archived at www.Safeway.com. WebCasey's General Stores, Inc. ATTN: Darren Rebelez, President and Chief Executive Officer. A replay of the call will be archived at www.Safeway.com. 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. The company is well positioned for continued success and growth.. Her leadership and corporate governance experience with large public companies is valuable to our Boards governance strategic planning, and risk management oversight. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. WebSafeway: 1-800-SAFEWAY. 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. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. We work hand in hand with local non-profit organizations to serve people in our neighborhoods where we operate. 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. For more information about BrandSafway, visit www.brandsafway.com. 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. Additional Information and Where to Find It If it is your nonprofit, add a problem overview. 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. 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. Casa Ley is a private company, and does not publicly disclose financials. Managing Director - $601,766 See Other Titles. 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. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. 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. The monetization of its 49% equity interest in Mexico-based food and. The Casa Ley CVR will have a four-year term. Mr. Galbato is the Chief Executive Officer of Cerberus Operations and Advisory Company, LLC. What are the organization's current programs, how do they measure success, The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). 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? Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. 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 Go-Shop Period 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. You can sign up for additional alert options at any time. Safeway : Board Of Directors Declares Quarterly Dividend: PR. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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.". 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. 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. 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. 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. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. 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. Monitor your investments 24 hours a day, around the clock from around the globe. Registered in England and Wales. 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. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. 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. Click here to resend it.). 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