I am excited to join BrandSafway, a market leader with an outstanding team, a strong commitment to safety, and the broadest portfolio of services and products in the industry, said Fessenden. All rights reserved. Thomas Nelson has been working as a Store Director at Safeway for 20 years. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions. 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. Vivek joined Albertsons Companies, Inc. in April 2019 and serves as the companys Chief Executive Officer. 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. Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. Its intentional. He will retire from Visa on Sept. 30. You can sign up for additional alert options at any time. Managing Director - $601,766 See Other Titles. Number 8860726. 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? In connection with the proposed merger transaction, Safeway will file with the SEC and furnish to Safeway's shareholders a proxy statement and other relevant documents. Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. 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. He also served as a member of the Federal Accounting Standards Advisory Board from 2002 through June 2012. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. 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. The majority pay is between $68,369 to $87,906 per year. Sharon L. Allen Director. 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. The merger agreement was unanimously approved by the Board of Directors of Safeway. Gary Steadman has been working as a Store Director at Safeway for 7 years. Benzinga does not provide investment advice. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. By closing this message or continuing to use our site, you agree to the use of cookies. 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. Visit our updated. 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. 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. Value to Safeway Shareholders Learn More Ms. Wests proven track record of innovation and transformation across myriad facets of retail brings to our Board extensive food and retail industry experience. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. 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. Vivek Sankaran Chief Executive Officer and Director. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. If you experience any issues with this process, please contact us for further assistance. 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. Learn more For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. Mr. Donald has served as Co-Chairman of our Board since 2019. A replay of the call will be archived at www.Safeway.com. 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. AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled by a Cerberus The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. 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. The Casa Ley CVR will have a four-year term. 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. about GuideStar Pro. The company operates 1,335 stores in 20 states and the District of Columbia, 13 distribution centers and 20 manufacturing plants, and employs approximately 138,000 employees. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. Already have a GuideStar Account? The merger agreement was unanimously approved by the Board of Directors of Safeway. Delta Board of Directors Names Vasant Prabhu as Newest Member. "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. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. An RFP is released on an annual basis by invitation only. 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. 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. What are the organization's current programs, how do they measure success, 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. By visiting this website, certain cookies have already been set, which you may delete and block. 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. Among her other leadership roles at Deloitte, Ms. Allen was partner and regional managing partner responsible for audit and consulting services for several Fortune 500 and large privately held companies. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. As one of the largest grocery retailers in North America, we find that supporting hunger relief programs is a natural fit for us. Registered in England and Wales. 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. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. (Don't see an email in your inbox? Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. 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. Casa Ley is a private company, and does not publicly disclose financials. 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. In addition, investors may obtain a free copy of Safeway's filings with the SEC from Safeway's website at http://www.Safeway.com or by directing a request to: Safeway Inc., 5918 Stoneridge Mall Road, Pleasanton, California 94588, Attention: Investor Relations. The people, governance practices, and partners that make the organization tick. WebBoard of Directors. 2014: Empire : Safeway acquisition boosts Sobeys owner Empire's profit: RE. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. 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. Casa Ley is a private company, and does not publicly disclose financials. Global Corporate Headquarters Has the board conducted a formal, written assessment of the chief executive within the past year ? WebSafeway. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. 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. 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. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. Overnight on Wall Street is morning in Europe. 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. 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 is expected to close in the fourth quarter of 2014 following the satisfaction of customary closing conditions, including approval of the Merger by the holders of a majority of the outstanding shares of Safeway common stock and regulatory approvals including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. More news: News in other languages on SAFEWAY INC. 2015: 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. Safeway is part of the Grocery Retail industry, and located in California, United States. 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 assurance that this process will result in a superior proposal. 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. 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. 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. Safeway will soon be initiating a process to sell PDC. 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. Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. 1 on Yelp's SW best eateries, Green Valley bite reminder that it's rattler season in Tucson, Yentzer booted from ballot in race for Tucson mayor, Award-winning journalist takes helm of Arizona Daily Star, state news operations, Threats cause Catalina Foothills School District to cancel meeting, 40 fun events happening in Tucson this weekend April 27-30 , Northern lights spotted over Tucson after powerful solar activity, Arizona coach Tommy Lloyd says Wildcats are 'in great shape' despite current holes in roster, Tucson to study creating city-run electric utility; TEP opposed, Pac-12 basketball picks: Soon-to-depart USC is early league favorite; Arizona slotted 3rd, Tucson Opinion: Confused about Prop 412? 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. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. WebMr. 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 Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board Distribution of Blackhawk Shares About the Combined Company One SE Convenience Boulevard. Mr. Fennebresque has served as a senior advisor to Cowen Group Inc., a diversified financial services firm, since 2008, where he also served as its Chairman, President and Chief Executive Officer from 1999 to 2008. 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. Ching, 52, has been with Safeway since 1994. WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. General Manager and Vice President of Information Technology at Safeway Philtech . Edwards, 57, will also join the company's Board of Directors. By closing this message or continuing to use our site, you agree to the use of cookies. Ms. West provides our Board with expertise in marketing, brand building and strategic and operational planning for consumer-focused companies. and who do the programs serve? Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. They are part of Information Technology Department and 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 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. No store closures are expected as a result of this transaction. Do Not Sell or Share My Personal Information. Investor Conference Call By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. 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. 11555 Dublin Canyon Rd The Albertsons Companies Foundation, Email contact available with a Pro subscription. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. 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. All Rights Reserved BNP Media. Regular Quarterly Dividends , Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement. Any shareholder wishing to communicate with one or more Board members should address a written communication Contact. You have permission to edit this article. 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. It also brings together two great organizations with talented management teams. A-1 The Casa Ley CVR will have a four-year term. Her leadership and corporate governance experience with large public companies is valuable to our Boards governance strategic planning, and risk management oversight. The merger agreement was unanimously approved by the Board of Directors of Safeway. Plus expansion candidates and more, Tucson restaurant lands No. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. Gary Steadman's Phone Number and Email Last Update. Cameron Thistle's Phone Number and Email Last Update. 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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. aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. 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. 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. how much does a baby orangutan cost,
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