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. Stock Price Premium The Casa Ley CVR will have a four-year term. WinCo Foods tabs Grant Haag as He will retire from Visa on Sept. 30. 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. We are excited about continuing this momentum as a combined organization. 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.". Want to see how you can enhance your nonprofit research and unlock more insights? Click here to resend it.). 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. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. Ching, 52, has been with Safeway since 1994. 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. It also brings together two great organizations with talented management teams. 2014: Empire : Safeway acquisition boosts Sobeys owner Empire's profit: RE. Safeway Inc., which operates Safeway, Vons, Pavilion's, Randall's, Tom Thumb, and Carrs stores, is a Fortune 100 company and one of the largest food and drug retailers in the United States with sales of $36.1 billion in 2013. Transamerica was acquired by Aegon in 1999. 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. 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.". The estimated total pay for a Director at Safeway is $331,014 per year. TalentSky Member of the Board of Directors Dec 2015 Target Member of the Board of Directors Safeway Member of the 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. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Director The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. No store closures are expected as a result of this transaction. Regular Quarterly Dividends 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. General Manager and Vice President of Information Technology at Safeway Philtech . 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. 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. Mr. Donald has served as Co-Chairman of our Board since 2019. 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. 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. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. 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. Safeway Safeway and Albertsons Announce Definitive Merger No store closures are expected as a result of this transaction. Investor Conference Call "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. Please check your inbox in order to proceed. About Safeway Inc. Sign in. ", Respond: Write a letter to the editor | Write a guest opinion. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. 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. Our current Board of Directors consists of seven members. 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. Edwards previously held several executive level positions with Safeway Inc., including President and Chief. Greenhill & Co. has also served as financial advisor to Safeway. 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. 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. 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) ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. Safeway Appoints New Board Members | Supermarket News He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. 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. Email. These statements are based on management's assumptions and beliefs in light of the information currently available to it. 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. Click on the link in that email 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 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. 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. 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. 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. This organization is required to file an IRS Form 990 or 990-EZ. For more information, please visit www.Albertsons.com. Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? 4/30/2023 1:10 PM. After submitting your request, you will receive an activation email to the requested email address. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. Want to see how you can enhance your nonprofit research and unlock more insights? 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. This number represents the median, which is the midpoint of the ranges from our proprietary Mr. Wille has served as a member of our Board since 2020. The initial go-shop period is 21 days. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. Garcia is a three-time public company CFO with experience across all aspects of the financial function. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. 11555 Dublin Canyon Rd The Albertsons Companies Foundation, Email contact available with a Pro subscription. The Casa Ley CVR will have a four-year term. Mr. Wille has also been a member of Cerberus Private Equity Investment Committee since 2016. Kim about GuideStar Pro. The people, governance practices, and partners that make the organization tick. Markets never sleep, and neither does Bloomberg News. For more information, please visit www.Safeway.com. to get more GuideStar Nonprofit Profile data today! Jack Sinclair Board Member. Latham & Watkins LLP served as Safeway's outside legal counsel. Property Development Centers and Casa Ley 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. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. They are part of Information Technology Department and A replay of the call will be archived at www.Safeway.com. About Us - Southern California Employee Association - Weebly Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Ms. Allen has been a member of our Board since 2015. Board of Directors You have permission to edit this article. 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. 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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. Petco appoints Safeways CIO to board of directors | CIO 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. Property Development Centers and Casa Ley. BrandSafway board of directors appoints new leadership, Karl Fessenden joins as CEO and Christian Garcia as EVP and CFO. 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.". 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. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. 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. 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. 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. Do Not Sell My Personal Data/Privacy Policy. WebBoard of Directors. Safeway Summary Programs + Results Financials Operations. Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. GuideStar worked with BoardSource, the national leader Robert Edwards - Member of the Board of Directors 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. Register now. You must click the activation link in order to complete your subscription. Safeway - Contacts, Employees, Board Members, Advisors Board of Directors 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 has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. These applications are considered throughout the year for invites to our annual RFP in the fall of each year. 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. SAFEWAY INC Safeway will soon be initiating a process to sell PDC. Safeway Complete Merger Transaction He will retire from Visa on Sept. 30. 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 are excited about continuing this momentum as a combined organization. Contact. Cameron Thistle's Phone Number and Email Last Update. Mr. Dreiling has served as a director and Executive Chairman of Dollar Tree, Inc., a leading operator of discount variety stores, since March 2022 and was appointed Chief Executive Officer in January 2023. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store The majority pay is between $68,369 to $87,906 per year. Officers, directors, trustees, and key employees, Analyze a variety of pre-calculated financial metrics, Access beautifully interactive analysis and comparison tools, Compare nonprofit financials to similar organizations, Revenue and expense data for the current fiscal year, CEO, Board Chair, and Board of Directors information, *with the ability to download the data for 2020, 2019, 2018, 2017, 2016. Evaluate the most effective solutions with interactive exhibits from leading suppliers. This Safeway in a rich Bay Area enclave feels hostile.. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. DELTA NEWS ON THE GO. Safeway Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board Thomas Nelson has been working as a Store Director at Safeway for 20 years. Global Corporate Headquarters WebMr. Safeway Mr. Gibson has been a member of our Board since 2018. Safeway's current Chief Financial Officer is Randy N Anderson. Before joining PepsiCo in 2009, Vivek was a partner at McKinsey and Company, where he served various Fortune 100 companies bringing a strong focus on strategy and operations. 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. George Charters Board Member Jun 1, 1998. 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. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 Mr. Galbato served on the boards of Blue Bird Corporation, the leading independent designer and manufacturer of school buses, from February 2015 to April 2023, KORE Group Holdings Inc., a pioneer in delivering IoT solutions and services, from September 2021 to February 2022, and AutoWeb, Inc., an automotive media and marketing services company, from January 2019 to May 2022. 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. Safeway was not a one man band and the acts were not ratified by Safeways board of directors. 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. 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. 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. Investors - Governance - Board of Directors - Albertsons Delta Board of Directors Names Vasant Prabhu as Newest Member. 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.
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