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. KENNESAW, Ga., Sept. 30, 2020 The board of directors of BrandSafway, a global leader in access and industrial services, has announced that Karl Fessenden Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Property Development Centers and Casa Ley 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. 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. Mr. Galbato is the Chief Executive Officer of Cerberus Operations and Advisory Company, LLC. 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. 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. Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. Its intentional. Want to see how you can enhance your nonprofit research and unlock more insights? PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. The merger agreement was unanimously approved by the Board of Directors of Safeway. This number represents the median, which is the midpoint of the ranges from our proprietary Casa Ley is a private company, and does not publicly disclose financials. Investors - Governance - Board of Directors - Albertsons TalentSky Member of the Board of Directors Dec 2015 Target Member of the Board of Directors Safeway Member of the Board of Directors Safeway will soon be initiating a process to sell PDC. BrandSafway board of directors appoints new leadership SAFEWAY INC - Annual Report (10-K) Item 10. Directors, Mr. Donald has served as Co-Chairman of our Board since 2019. Edwards previously held several executive level positions with Safeway Inc., including President and Chief. Petco appoints Safeways CIO to board of directors | CIO 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. 250-483-1600. He will retire from Visa on Sept. 30. 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. From 2010 to 2012, Mr. Fennebresque served as chairman of Dahlman Rose & Co., LLC, an investment bank. About the Combined Company Email. He most recently served as oil field services supplier Weatherfords CFO. 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If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. 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"). There can be no assurance that this process will result in a superior proposal. 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. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. Number 8860726. Markets never sleep, and neither does Bloomberg News. Steve Burd, Safeway Inc: Profile and Biography Mr. Gibson has served as the Chief Investment Officer of Centaurus Capital LP, a private investment partnership since 2011, and Investment Manager for the Laura and John Arnold Foundation since 2011. Keep reading with a digital access subscription. Contact the Board of Directors. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. 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 joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. Subscribe to stay connected to Tucson. 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. It also brings together two great organizations with talented management teams. The PDC CVR will have a two-year term. Try a low commitment monthly plan today. Sign in. A replay of the call will be archived at www.Safeway.com. RICHARD W. DREILING These factors include: failure to obtain shareholder approval of the proposed merger; failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory or other approvals; failure to consummate or delay in consummating the transaction for other reasons; changes in laws or regulations; and changes in general economic conditions. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. about GuideStar Pro. Safeway Working together will enable us to create cost savings that translate into price reductions for our customers. Safeway Greenhill & Co. has also served as financial advisor to Safeway. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. 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. The proceeds are from: 1. There can be no assurance that this process will result in a superior proposal. to get more GuideStar Nonprofit Profile data today! You can sign up for additional alert options at any time. Patricia H. Mueller, chief marketing officer and SVP, advertising and marketing for Atlanta-based The Home Depot Inc. from 2011 to 2016, was also elected to the board. 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. 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. Our current Board of Directors consists of seven members. Podcast: How long can the private brand streak last? 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. 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. 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. Safeway To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts." 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. Director 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. All Rights Reserved BNP Media. Board of Directors For more information about BrandSafway, visit www.brandsafway.com. Regular Quarterly Dividends Renda spent more Stock Price Premium Cameron Thistle's Phone Number and Email Last Update. 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. Petco elected Safeways SVP and CIO David Ching to its board of directors. A replay of the call will be archived at www.Safeway.com. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Safeway We work hand in hand with local non-profit organizations to serve people in our neighborhoods where we operate. Has the board conducted a formal, written assessment of the chief executive within the past year ? Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. If you experience any issues with this process, please contact us for further assistance. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. Board of Directors WAFC We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. The majority pay is between $68,369 to $87,906 per year. For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. 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. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. Contact. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. About Albertsons It also brings together two great organizations with talented management teams. Safeway At Albertsons Companies, Inc., we promise to treat your data with respect and will not share your information with any third party. Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. 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." 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. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. From its headquarters in New York City and large network of affiliate and advisory offices in the US, Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple sectors, through multiple investment strategies in countries around the world. 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. 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 This document may be deemed to be solicitation materials in respect of the proposed acquisition of Safeway by AB Acquisition. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Safeway 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. 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. 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. 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. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. Want to see how you can enhance your nonprofit research and unlock more insights? BrandSafway has a strong financial position with significant liquidity, allowing it to pursue the significant organic and inorganic growth opportunities available in its markets, said Garcia. Safeway AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. 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. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. Safeway A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. We are excited about continuing this momentum as a combined organization. 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. WebRobert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway No store closures are expected as a result of this transaction. 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. The company's common stock is traded on the New York Stock Exchange under the symbol SWY. 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. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. Safeway has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. 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. 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. Shareholders are urged to read the proxy statement when it becomes available and any other documents to be filed with the SEC in connection with the proposed acquisition or incorporated by reference in the proxy statement because they will contain important information about the proposed acquisition. WebRobert Edwards holds 3 board and advisor roles including Member of the Board of Directors at TalentSky, Member of the Board of Directors at Target, and Member of the Board of Directors at Safeway. 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. 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. Learn More Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. 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. 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. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond Safeway's control. Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. Need the ability to download nonprofit data and more advanced search options? The call will be webcast live at www.Safeway.com. If it is your nonprofit, add a problem overview. This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. Safeway Appoints New Board Members | Supermarket News Gary Steadman has been working as a Store Director at Safeway for 7 years. , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. 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. Delta Board of Directors Names Vasant Prabhu as Newest Member. Click here to resend it.). What are the organization's current programs, how do they measure success, This organization is required to file an IRS Form 990 or 990-EZ. They are part of Information Technology Department and Plus expansion candidates and more, Tucson restaurant lands No. The estimated total pay for a Director at Safeway is $331,014 per year. 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. Value to Safeway Shareholders 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. AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled by a Cerberus Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. WebSafeway has 7 board members and advisors, including Jack Sinclair. (Don't see an email in your inbox? 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. The combined value for Safeway shareholders who receive both a distribution of Blackhawk shares and the aggregate cash and contingent consideration in the Merger, based on Safeway's current estimates of the value of the contingent consideration, would represent a premium of 72 percent over Safeway's closing share price of $23.27 on March 6, 2013, one year ago; 56 percent over Safeway's closing price of $25.62 on September 6, 2013, six months ago; and 17 percent over Safeway's closing share price of $34.10 on February 18, 2014, the day before Safeway announced it was in discussions regarding a potential sale of the company. WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. 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. He co-led the firms North American purchasing and supply management practice and was on the leadership team of the North American retail practice. ", Respond: Write a letter to the editor | Write a guest opinion. 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. Participants in the Solicitation 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. By visiting this website, certain cookies have already been set, which you may delete and block. Global Corporate Headquarters 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. WebBoard of Directors 1 Safeway Management Team 20 Team Members Safeway has 20 executives. Thrifty Foods #106, 3030 Merchant Way Victoria, British Columbia V9B 0X1. Do Not Sell or Share My Personal Information. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. 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. Safeway 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. Prior to Hersheys, Ms. West was at J.C. Penny Company, Inc., an American department store chain, after having served on its board from November 2005 to May 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.
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