Prior to Centaurus, Mr. Gibson served as Senior Vice President of institutional asset management at Royal Bank of Canada from February 2008 until April 2011. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. 250-483-1600. For more information, please visit www.Albertsons.com. 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. The estimated total pay for a Director at Safeway is $331,014 per year. Learn More 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. 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. 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. 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. 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. 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. Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. 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. 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. By closing this message or continuing to use our site, you agree to the use of cookies. About the Combined Company Ms. Allen currently serves on the board of Bank of America Corporation and served as a director of First Solar, Inc., a manufacturer of solar panels and a provider of utility-scale PV power plants and supporting services from 2013 to 2022. Acquisition Funding 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. 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. Delta Board of Directors Names Vasant Prabhu as Newest Member. Contact. 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 Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Need the ability to download nonprofit data and more advanced search options? Get the latest local business news delivered FREE to your inbox weekly. 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. Ms. West has served on our Board since 2020 and currently serves as a Senior Advisor for McKinsey & Company. Edwards previously held several executive level positions with Safeway Inc., including President and Chief. Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. Prior to joining Cerberus, Mr. Wille worked in the leveraged finance group at Deutsche Bank Securities Inc. from 2004 to 2006. Overnight on Wall Street is morning in Europe. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. 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." He also served as a member of the Federal Accounting Standards Advisory Board from 2002 through June 2012. 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. WebThe company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. 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. Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald 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 Kevin Turner (born April 3, 1965) is an American businessman and investor who is currently the chairman of Zayo Group and the vice chairman of Albertsons / Safeway Inc. ", Respond: Write a letter to the editor | Write a guest opinion. 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. A replay of the call will be archived at www.Safeway.com. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. Item 10. Managing Director - $601,766 See Other Titles. Our current Board of Directors consists of seven members. Safeway is part of the Grocery Retail industry, and located in California, United States. Timing and Closing Conditions View all board members Compare Safeway to Competitors Trader Joe's Trader Joe's is a specialty grocery store 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? 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. 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. Subscribe to stay connected to Tucson. Our stores nationally provide the opportunity to mobilize funding and create awareness in our neighborhoods. 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It also brings together two great organizations with talented management teams. 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. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Gary Steadman's Phone Number and Email Last Update. "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. 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. 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. A-1 If you experience any issues with this process, please contact us for further assistance. to get more GuideStar Nonprofit Profile data today! Read More . 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. 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? 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 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. Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Ms. Allen has been a member of our Board since 2015. Mr. Wille has served as a member of our Board since 2020. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. Plus expansion candidates and more, Tucson restaurant lands No. Mr. Galbato has served as Co-Chairman of our Board since 2021. 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. Managing Director - $601,766 See Other Titles. PLEASANTON, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the companys board of directors, expanding the board 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. 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. We are pleased to have these talented leaders join the BrandSafway team, said John Krenicki, chairman of the board and acting CEO. The Casa Ley CVR will have a four-year term. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Citigroup, lead financial advisor, Bank of America Merrill Lynch and Credit Suisse served as financial advisors to Albertsons, Cerberus and the investor group. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. 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. Working together will enable us to create cost savings that translate into price reductions for our customers. 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. WebMr. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts." We work hand in hand with local non-profit organizations to serve people in our neighborhoods where we operate. Greenhill & Co. has also served as financial advisor to Safeway. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. He also served as head of the corporate finance and mergers and acquisitions departments at UBS, a global financial services firm, and was a general partner and co-head of investment banking at Lazard Frres & Co, a leading financial advisory and asset management firm. WebCasey's General Stores, Inc. ATTN: Darren Rebelez, President and Chief Executive Officer. The merger agreement was unanimously approved by the Board of Directors of Safeway. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. For more information, please visit www.Albertsons.com. 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. Want to see how you can enhance your nonprofit research and unlock more insights? Safeway Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board 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. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 Seafood prices up a tick; sales remain solid, Podcast: Mission complete? 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 PDC CVR will have a two-year term. 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 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. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. Benzinga does not provide investment advice. Evaluate the most effective solutions with interactive exhibits from leading suppliers. 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.
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