safeway board of directors
He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Thrifty Foods #106, 3030 Merchant Way Victoria, British Columbia V9B 0X1. 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 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. 4/30/2023 6:28 AM. Ching, 52, has been with Safeway since 1994. Joe leads the companys ambitious innovation strategy, designed to ensure its innovations continue to He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. Greenhill & Co. has also served as financial advisor to Safeway. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. 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. Property Development Centers and Casa Ley It also brings together two great organizations with talented management teams. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. Edwards previously held several executive level positions with Safeway Inc., including President and Chief. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. He most recently served as oil field services supplier Weatherfords CFO. PLEASANTON, Calif. and BOISE, Idaho, March 6, 2014 /PRNewswire/ -- Safeway Inc. (NYSE: SWY) and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). 1325 Cobb International Drive, Ste. He co-led the firms North American purchasing and supply management practice and was on the leadership team of the North American retail practice. Established in 2006, AB Acquisition LLC ("Albertsons"), which operates ACME, Albertsons, Jewel-Osco, Lucky, Shaw's, Star Market and Super Saver, and stores under the United Family of stores, Amigos, Market Street and United Supermarkets, is working to become the favorite food and drug retailer in every market it serves. For additional information please refer to Safeway's most recent Form 10-K, 10-Q and 8-K reports filed with the SEC. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway 250-483-1600. A replay of the call will be archived at www.Safeway.com. 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) 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 has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. BrandSafway board of directors appoints new leadership, Karl Fessenden joins as CEO and Christian Garcia as EVP and CFO. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. Click here to resend it.). 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. Evaluate the most effective solutions with interactive exhibits from leading suppliers. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. 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. Managing Director - $601,766 See Other Titles. Mr. Schumacher has served as a member of our Board since 2015. The majority pay is between $68,369 to $87,906 per year. Global Corporate Headquarters Ms. West provides our Board with expertise in marketing, brand building and strategic and operational planning for consumer-focused companies. Submit Your Analyst Briefing Safeway Board of Director 1 Board of directors 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. The proceeds are from: Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. Ms. West has served on the boards of Hasbro, Inc. a global play and entertainment company, since June 2016 and Lowes Inc., a home improvement retailer, since April 2021. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. They used to work at Safeway. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Jack Sinclair Board Member. Our stores nationally provide the opportunity to mobilize funding and create awareness in our neighborhoods. 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. The Casa Ley CVR will have a four-year term. 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. About Albertsons The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. 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. Edwards, 57, will also join the company's Board of Directors. 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. Prior to joining ESH, Mr. Donald served as President, Chief Executive Officer and Director of Starbucks Corporation, a multinational chain of coffeehouses and roastery reserves, President and Chief Executive Officer of regional food and drug retailer Haggen Food & Pharmacy, Chairman, President and Chief Executive Officer of regional food and drug retailer Pathmark Stores, Inc., and served in a variety of other senior and executive roles at Wal-Mart Stores, Inc., Safeway Inc. and Albertsons, Inc. Mr. Donald began his grocery and retail career in 1971 with Publix Super Markets, Inc. Mr. Donald has also served on the board of Nordstrom, Inc., a leading fashion retailer, since 2020. 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. Sign in. 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. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. 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.. 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. Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Mr. Fennebresque has been a member of our Board since 2015. , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. Number 8860726. Ms. Allen has been a member of our Board since 2015. 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. 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. 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. 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. Click on the link in that email 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. Garcia is a three-time public company CFO with experience across all aspects of the financial function. Distribution of Blackhawk Shares Casa Ley is a private company, and does not publicly disclose financials. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. Want to see how you can enhance your nonprofit research and unlock more insights? 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 subscription helps you access more of the local stories that keep you connected to the community. 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. 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. Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. 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.
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