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Seafood prices up a tick; sales remain solid, Podcast: Mission complete? 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. PDC projects are concentrated in Safeway's urban and suburban markets, and are predominantly located in California and Hawaii. WebB. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Mr. Schumacher has served as a member of our Board since 2015. Register now. The Board can be contacted using one of the two methods below. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. You must click the activation link in order to complete your subscription. 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? to get more GuideStar Nonprofit Profile data today! WebRobert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. 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. Robert Edwards - Member of the Board of Directors 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. Chan Galbato Co-chair. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. 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. We are pleased to have these talented leaders join the BrandSafway team, said John Krenicki, chairman of the board and acting CEO. Ching, 52, has been with Safeway since 1994. If Safeway is unable to sell Casa Ley before the four-year expiration of the CVR, shareholders would receive a cash distribution equal to the after-tax fair market value of Safeway's interest in Casa Ley at such time. Working together will enable us to create cost savings that translate into price reductions for our customers. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. Podcast: How long can the private brand streak last? 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.". "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. Overnight on Wall Street is morning in Europe. Learn about the most recent outbreaks, contaminants, and regulations from leading subject matter experts. Safeway and its directors, executive officers and certain other members of management and employees of Safeway may be deemed "participants" in the solicitation of proxies from shareholders of Safeway in favor of the proposed merger. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. Safeway Mr. Wille has served as a director of NexTier Oilfield Solutions Inc., a provider of hydraulic fracturing, wireline technologies and drilling services, since March 2011. 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. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. and expansion plans with unmatched service from expert local labor and management. 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. Click on the link in that email Ms. West provides our Board with expertise in marketing, brand building and strategic and operational planning for consumer-focused companies. Visit our updated. 2023 Benzinga.com. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. Has the board conducted a formal, written assessment of the chief executive within the past year ? 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. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the shareholders of Safeway in connection with the proposed acquisition will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. 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? Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. Mr. Wille has served as a member of our Board since 2020. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. About Safeway Inc. 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. Safeway : Board Of Directors Declares Quarterly Dividend: PR. Subscribe to stay connected to Tucson. If you are interested in partnering with us to eradicate hunger, please fill out an application below. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Cameron Thistle's Phone Number and Email Last Update. 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) Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. Among other things, the Combined Entity's ability to achieve estimated price reductions from the transaction, as well as the timing of such reductions, will depend on the Combined Entity's ability to integrate its businesses in a timely fashion, including realizing synergies anticipated by reduction of duplicative systems and processes. Insurers liability for civil fines and penalties Contact Us Mr. Donald has served as Co-Chairman of our Board since 2019. About Us - Southern California Employee Association - Weebly 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. Click here to resend it.). about GuideStar Pro. 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. Board of Directors general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Please check your inbox in order to proceed. By providing your email address below, you are providing consent to Albertsons Companies, Inc. to send you the requested Investor Email Alert updates. 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. 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. 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. 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. 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, 2. The PDC CVR will have a two-year term. Safeway More news: News in other languages on SAFEWAY INC. 2015: GuideStar worked with BoardSource, the national leader Edwards previously held several executive level positions with Safeway Inc., including President and Chief. We are excited about continuing this momentum as a combined organization. Renda spent more 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. 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. Do Not Sell or Share My Personal Information. 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. 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. 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 Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Regular Quarterly Dividends Benzinga does not provide investment advice. 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. "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. 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. If Safeway is unable to sell Casa Ley before the four-year expiration of the CVR, shareholders would receive a cash distribution equal to the after-tax fair market value of Safeway's interest in Casa Ley at such time. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. 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. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Managing Director - $601,766 See Other Titles. 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. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. Contact the Board of Directors. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. Steven Burd - Wikipedia No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. 4/30/2023 1:10 PM. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. He has been Chief Financial officer since 2015 and was Director Jack Sinclair Board Member. Mr. Schumacher worked for 23 years at American National Can Corporation and American National Can Group, where he served as Executive Vice President and Chief Financial Officer from 1997 until his retirement in 2000, and Vice President, Controller and Chief Accounting Officer from 1985 until 1996. 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 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. Prior to that, he served as the company's president and chief operating officer, a position he was named to in 2016. Kim All rights reserved. The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Investor Conference Call 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. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Email. Mr. Fennebresque has been a member of our Board since 2015. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. This number represents the median, which is the midpoint of the ranges from our proprietary BrandSafway board of directors appoints new leadership, Karl Fessenden joins as CEO and Christian Garcia as EVP and CFO. The proceeds are from: 1. 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. 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 A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. Vivek joined Albertsons Companies, Inc. in April 2019 and serves as the companys Chief Executive Officer. 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. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. George Charters Board Member Jun 1, 1998. Joe leads the companys ambitious innovation strategy, designed to ensure its innovations continue to Safeway 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.. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. RICHARD W. DREILING Safeway The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. 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. PLEASANTON, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the companys board of directors, expanding the board You have permission to edit this article. 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. WebSafeway: 1-800-SAFEWAY. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. (Don't see an email in your inbox? 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. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Gary Steadman is a Store Director at Safeway based in Pleasanton, California. 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. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. Director 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. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. 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. He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. SAFEWAY INC Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. Advisors No, it never stops, Kroger, Albertsons may need to divest even more stores, Thoughts on the Kroger, Albertsons merger (Part 3). Transamerica was acquired by Aegon in 1999. 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. 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. General Manager and Vice President of Information Technology at Safeway Philtech . He joined the Board of Directors on September 7, A replay of the call will be archived at www.Safeway.com. P.O. Need the ability to download nonprofit data and more advanced search options? Vivek joined Albertsons Companies, Inc. in April 2019 and serves as the companys Chief Executive James L. Donald Co-chair. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts." They are part of Read More Cameron Thistle's Phone Number and Email Last Update 4/30/2023 6:28 AM Email c***@safeway.ca Engage via Email Contact Number (***) ***-**** Engage via Phone 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. Monitor your investments 24 hours a day, around the clock from around the globe. No store closures are expected as a result of this transaction. Greenhill & Co. has also served as financial advisor to Safeway. WebMr. The Casa Ley CVR will have a four-year term. 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. Learn about the organization's key goals, strategies, capabilities, and progress. 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. 1325 Cobb International Drive, Ste. About Cerberus Capital Management, L.P. 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 You can sign up for additional alert options at any time. A subscription helps you access more of the local stories that keep you connected to the community. For more information, please visit www.Albertsons.com. Her leadership and corporate governance experience with large public companies is valuable to our Boards governance strategic planning, and risk management oversight. WebALBERTSONS COMPANIES FOUNDATION. 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.

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