WebBoard of Directors. 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. Box 3001. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. Chief Executive Officer & Director: 59: 2021: Sharon McCollam: President & Chief Financial Officer: 60: 2021: Anuj Dhanda: Chief Information Officer & Executive VP: 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 , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. 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. On a present value basis over 15 years, this tax savings, resulting from future tax deductions, is valued at approximately $4.50 per Blackhawk share and $0.70 per Safeway share. 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'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. in nonprofit board leadership and governance, to create this section. He also served as a member of the Federal Accounting Standards Advisory Board from 2002 through June 2012. Visit our updated. ", Respond: Write a letter to the editor | Write a guest opinion. 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. 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. 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 Connect and network with a community of food safety professionals throughout the supply chain. Managing Director - $601,766 See Other Titles. 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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No store closures are expected as a result of this transaction. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. No store closures are expected as a result of this transaction. The PDC CVR will have a two-year term. Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. 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. This Safeway in a rich Bay Area enclave feels hostile.. Get up-to-the-minute news sent straight to your device. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. 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 estimated total pay for a Director at Safeway is $331,014 per year. 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. Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. We focus on giving locally in the areas of Education; Hunger Relief; Health and Human Services; and Helping People Living with Disabilities. 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. View all management team This profile has not been claimed. No, it never stops, Kroger, Albertsons may need to divest even more stores, Thoughts on the Kroger, Albertsons merger (Part 3). Mr. Wille has served as a member of our Board since 2020. Ms. Wests proven track record of innovation and transformation across myriad facets of retail brings to our Board extensive food and retail industry experience. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. 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. You must click the activation link in order to complete your subscription. Mr. Fennebresques extensive experience as a director of several public companies and history of leadership in the financial services industry brings corporate governance expertise and a diverse viewpoint to the deliberations of our Board. Found email listings include: c***@safeway.ca. 4/30/2023 1:10 PM. 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. For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. For more information about BrandSafway, visit www.brandsafway.com. Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. 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. For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. Casa Ley is a private company, and does not publicly disclose financials. Sharon L. Allen Director. 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. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation, and operates 1,075 stores and 14 distribution centers in 29 states and employs approximately 115,000 associates. Greenhill & Co. has also served as financial advisor to Safeway. Global Corporate Headquarters 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 If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. 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. 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. Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Safeway is part of the Grocery Retail industry, and located in California, United States. 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. WebSelected Safeway Board of Directors: [7] Mohan Gyani, Former President and Chief Executive Officer Mobility Services AT&T Wireless Services, Inc. Paul Hazen, Former Chairman and Chief Executive Officer Wells Fargo Raymond G. Viault, Former Vice Chairman General Mills Contact details 5918 Stoneridge Mall Road Pleasanton, CA 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. WebSafeway. Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. 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 store closures are expected as a result of this transaction. Learn about the organization's key goals, strategies, capabilities, and progress. Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. 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.. Four powerful questions that require reflection about what really matters - results. From 2010 to 2012, Mr. Fennebresque served as chairman of Dahlman Rose & Co., LLC, an investment bank. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Jack Sinclair Board Member. There can be no assurance that this process will result in a superior proposal. View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store Kim Over his ten-year career at PepsiCo, in addition to leading Frito-Lay, Vivek also served as the chief commercial officer for PepsiCo North America, Chief Customer Officer of Frito-Lay, and as the Senior Vice President of Strategy for PepsiCo. 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. He most recently served as oil field services supplier Weatherfords CFO. 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 owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. 5 things: Dollar stores are trading inflation for loyalty, Data security breach may have exposed Albertsons employee info, Trader Joes workers vote yes to a union in California, 5 things top news: Kroger hit with another lawsuit, 2023 Informa USA, Inc., All rights reserved, Snack idea might help lethargic seafood sales, Theres a sense for something good at IDBBA 2023. WebSafeway has 1 board of directors, including George Morrow. General Manager and Vice President of Information Technology at Safeway Philtech . Already have a GuideStar Account? Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. 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. 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. By closing this message or continuing to use our site, you agree to the use of cookies. 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 monetization of its 49% equity interest in Mexico-based food and. 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. 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? WebSteve Burd is Former Chairman/CEO at Safeway Inc. See Steve Burd's compensation, career history, education, & memberships. Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement.