He has been Chief Financial officer since 2015 and was This document may be deemed to be solicitation materials in respect of the proposed acquisition of Safeway by AB Acquisition. 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. If you experience any issues with this process, please contact us for further assistance. 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. 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. Ching, 52, has been with Safeway since 1994. Safeway Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board Ms. West provides our Board with expertise in marketing, brand building and strategic and operational planning for consumer-focused companies. Managing Director - $601,766 See Other Titles. WebRobert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. 4/30/2023 6:28 AM. 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. 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 board of directors selected Haag (left) for the leadership role after an intensive two-year process to identify the right person, according to WinCo. For additional information please refer to Safeway's most recent Form 10-K, 10-Q and 8-K reports filed with the SEC. Found email listings include: c***@safeway.ca. Vivek most recently served as CEO of PepsiCo Foods North America. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. Our current Board of Directors consists of seven members. By closing this message or continuing to use our site, you agree to the use of cookies. Learn more 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. Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. 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." All rights reserved. BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. 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. WebB. Advisors Greenhill & Co. has also served as financial advisor to Safeway. 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 Mr. Galbato also served as President and CEO of Armstrong Floor Products and, prior to that, as CEO of Choice Parts. 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. Sharon L. Allen Director. Latham & Watkins LLP served as Safeway's outside legal counsel. On a national basis, we fund only organizations working in the area of Hunger through our Nourishing Neighbors Campaign. about GuideStar Pro. It also brings together two great organizations with talented management teams. "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. 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. Investors will be able to obtain a free copy of documents filed with the SEC at the SEC's website at http://www.sec.gov. 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. We are pleased to have these talented leaders join the BrandSafway team, said John Krenicki, chairman of the board and acting CEO. Contact the Board of Directors. The estimated total pay for a Director at Safeway is $331,014 per year. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. 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. Safeway Safeway and Albertson's announced Thursday they have entered into a definitive merger agreement. 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. 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. Chan Galbato Co-chair. Board of Directors Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Safeway Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about 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. 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. Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald Has the board conducted a formal, written self-assessment of its performance within the past three years? 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. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. From 2012 to 2014, Ms. West served as Executive Vice President & Chief Category and Marketing Officer of Mondelez International, Inc., the snack foods division spun off from Kraft Foods, Inc. in 2012. 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. Ms. Allen also served as a member of the Global Board of Directors, Chair of the Global Risk Committee and U.S. Representative of the Global Governance Committee of Deloitte during this time. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique Board of Directors and expansion plans with unmatched service from expert local labor and management. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). He will retire from Visa on Sept. 30. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. General Manager and Vice President of Information Technology at Safeway Philtech . Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? He will retire from Visa on Sept. 30. Delta Board of Directors Names Vasant Prabhu as Newest Member. 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. Plus expansion candidates and more, Tucson restaurant lands No. Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. 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. 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. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. 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. 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. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. 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 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. These applications are considered throughout the year for invites to our annual RFP in the fall of each year. 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. Ms. Allen has been a member of our Board since 2015. Property Development Centers and Casa Ley. Timing and Closing Conditions 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. Kenneth Oder Board Member. Ankeny, IA 50021. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. Robert Edwards - Member of the Board of Directors TalentSky Member of the Board of Directors Dec 2015 Target Member of the Board of Directors Safeway Member of the Board of Directors To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. Safeway Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. 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. ", Respond: Write a letter to the editor | Write a guest opinion. 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 up-to-the-minute news sent straight to your device. Safeway Latham & Watkins LLP served as Safeway's outside legal counsel. No store closures are expected as a result of this transaction. Forward-Looking Statements Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden has been named chief executive officer (CEO) and Christian Garcia will be the new executive vice president (EVP) and chief financial officer (CFO), effective mid-October. Board of Directors Box 3001. 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. BrandSafway board of directors appoints new leadership No store closures are expected as a result of this transaction. You have permission to edit this article. We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. The 25th annual Food Safety Summit is the industry's premier event connecting food safety professionals throughout the supply chain with timely, actionable information and practical solutions to improve food safety! 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. One SE Convenience Boulevard. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. 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 He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. GuideStar worked with BoardSource, the national leader There can be no assurance that this process will result in a superior proposal. A-1 Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway Safeway CEO, Founder, Key Executive Team, Board of 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 proceeds are from: 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. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. It also brings together two great organizations with talented management teams. If you are interested in partnering with us to eradicate hunger, please fill out an application below. Click on the link in that email Visit our updated. 2023 Benzinga.com. 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. As one of the largest grocery retailers in North America, we find that supporting hunger relief programs is a natural fit for us. 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. WebSafeway: 1-800-SAFEWAY. 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. 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. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. He most recently served as oil field services supplier Weatherfords CFO. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. By visiting this website, certain cookies have already been set, which you may delete and block. 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. Director "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. An RFP is released on an annual basis by invitation only. 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. 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. They used to work at Safeway. The majority pay is between $68,369 to $87,906 per year. He has been Chief Financial officer since 2015 and was This filing does not constitute a solicitation of any vote or approval. 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. Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. Subscribe to stay connected to Tucson. 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.". Board of Directors Vivek Sankaran Chief Executive Officer and Director. Director The Board can be contacted using one of the two methods below. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. About the Combined Company All Rights Reserved BNP Media. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. WebBurd was President of Safeway from October 26, 1992, until May 14, 2013, and CEO from April 30, 1993, until May 14, 2013. Global Corporate Headquarters 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. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. 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. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. Investors - Governance - Board of Directors - Albertsons PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. 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. 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. The initial go-shop period is 21 days. 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. This number represents the median, which is the midpoint of the ranges from our proprietary Greenhill & Co. has also served as financial advisor to Safeway. 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. A replay of the call will be archived at www.Safeway.com. Contact. 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. Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. 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? Join us for The National Provisioners Top Poultry Trends Webinar and hear insights from Elancos technical experts regarding key market conditions impacting the poultry business. 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. BrandSafway board of directors appoints new leadership, Karl Fessenden joins as CEO and Christian Garcia as EVP and CFO. 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. 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." 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. Safeway The proceeds are from: 1. The merger agreement was unanimously approved by the Board of Directors of Safeway. Mr. Wille has also been a member of Cerberus Private Equity Investment Committee since 2016. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Mr. Gibson has been a member of our Board since 2018. 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. Mr. Willes experience in the financial and private equity industries, and his in-depth knowledge of the Company and industry, are valuable to our Boards understanding of the Company, its strategic plan, and its financial performance. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. View all management team This profile has not been claimed. 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. Safeway will soon be initiating a process to sell PDC. He co-led the firms North American purchasing and supply management practice and was on the leadership team of the North American retail practice. Follow the money, Stock Market Today: Wall Street Rises to Cap a Winning April, Powerful New Obesity Drug Poised to Upend Weight Loss Care, Analyst Breaks Down Thursday's Market as Stocks Climb Amid Strong Tech Earnings, Boeing to increase 737 Max production despite ongoing production issues. The monetization of its 49% equity interest in Mexico-based food and. 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").
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