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 call will be webcast live at www.Safeway.com. Ms. Allen has been a member of our Board since 2015. Click here to resend it.). Chan Galbato Co-chair. Sign in. 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. All Rights Reserved BNP Media. Officers, directors, trustees, and key employees, Analyze a variety of pre-calculated financial metrics, Access beautifully interactive analysis and comparison tools, Compare nonprofit financials to similar organizations, Revenue and expense data for the current fiscal year, CEO, Board Chair, and Board of Directors information, *with the ability to download the data for 2020, 2019, 2018, 2017, 2016. 11555 Dublin Canyon Rd The Albertsons Companies Foundation, Email contact available with a Pro subscription. 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. He joined the Board of Directors on September 7, 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. 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. They are part of Information Technology Department and We look forward to working with Bob Miller and the rest of the Albertsons team as we proceed together on a path towards becoming an even stronger organization." You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Has the board conducted a formal, written assessment of the chief executive within the past year ? 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. WebB. You must have JavaScript enabled to enjoy a limited number of articles over the next 30 days. After submitting your request, you will receive an activation email to the requested email address. Property Development Centers and Casa Ley 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. 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. 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. Casa Ley is a private company, and does not publicly disclose financials. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. 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. and expansion plans with unmatched service from expert local labor and management. The Board can be contacted using one of the two methods below. The call will be webcast live at www.Safeway.com. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. PLEASANTON, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the companys board of directors, expanding the board from nine to 11 members. We look forward to working with Bob Miller and the rest of the Albertsons team as we proceed together on a path towards becoming an even stronger organization.". Forward-Looking Statements Latham & Watkins LLP served as Safeway's outside legal counsel. 4/30/2023 6:28 AM. 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. Managing Director - $601,766 See Other Titles. More news: News in other languages on SAFEWAY INC. 2015: 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 Number 8860726. 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 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. 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. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. 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 the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. Mr. Schumacher has served as a member of our Board since 2015. 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. Has the board conducted a formal, written self-assessment of its performance within the past three years? 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. Registered in England and Wales. 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. 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. 4/30/2023 1:10 PM. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. Get up-to-the-minute news sent straight to your device. Connect and network with a community of food safety professionals throughout the supply chain. Todays BrandSafway is At Work For You leveraging innovation and economies of scale to increase safety and productivity, while remaining nimble and responsive. If the deal is not closed within 12 months, Albertsons can extend the merger agreement by an additional three months under certain circumstances. Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. Benzinga does not provide investment advice. The merger agreement was unanimously approved by the Board of Directors of Safeway. There can be no assurance that this process will result in a superior proposal. 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 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. Through a network of 340 strategic locations across 30 countries and more than 38,000 employees, BrandSafway delivers a full range of forming, shoring, scaffolding, work access and industrial service solutions. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. 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 WebSteve Burd is Former Chairman/CEO at Safeway Inc. See Steve Burd's compensation, career history, education, & memberships. The PDC CVR will have a two-year term. 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. Additional Information and Where to Find It We are excited about continuing this momentum as a combined organization. Contact. Investor Conference Call By closing this message or continuing to use our site, you agree to the use of cookies. WebALBERTSONS COMPANIES FOUNDATION. 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 press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). 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. Safeway is part of the Grocery Retail industry, and located in California, United States. 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. Under certain circumstances, if the Merger fails to close, AB Acquisition would be required to pay Safeway $400 million. Mr. Galbatos proven track record as an executive and leader in multiple operational and strategic roles at a variety of public and private companies provides our Board with valuable insights into the Companys operational and organizational strategy and effectiveness. Subscribe and follow. 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. Mr. Turner was a member of the board of Nordstrom, Inc., from 2010 to May 2020. 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. Edwards, 57, will also join the company's Board of Directors. Safeway is part of the Grocery Retail industry, and located in California, United States. We're proud to be one of the largest contributors to food banks and feeding programs in the neighborhoods we serve. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. 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. George Charters Board Member Jun 1, 1998. WebBoard of Directors. /sites/all/themes/penton_subtheme_supermarketnews/images/logos/footer.png. Prior to that, he served as the company's president and chief operating officer, a position he was named to in 2016. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. As one of the largest grocery retailers in North America, we find that supporting hunger relief programs is a natural fit for us. WebThe average annual salary of Safeway Electronics is estimated to be approximate $77,739 per year. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. 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) This organization is required to file an IRS Form 990 or 990-EZ. Visit our updated. Working together will enable us to create cost savings that translate into price reductions for our customers. WebMr. Participants in the Solicitation 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. BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & 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. 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. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. Casa Ley is a private company, and does not publicly disclose financials. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. Cameron Thistle's Phone Number and Email Last Update. 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. Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald About the Combined Company 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. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Email. 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. to get more GuideStar Nonprofit Profile data today! Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Help us get you more of the nonprofit information you need, including: An email has been sent to the address you provided. Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. Ching, 52, has been with Safeway since 1994. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Learn More Property Development Centers and Casa Ley. The company's common stock is traded on the New York Stock Exchange under the symbol SWY. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. 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. Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. 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. Want to see how you can enhance your nonprofit research and unlock more insights? 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. Click on the link in that email Safeway will soon be initiating a process to sell PDC. By visiting this website, certain cookies have already been set, which you may delete and block. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. 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. P.O. If you experience any issues with this process, please contact us for further assistance. Acquisition Funding 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 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. 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? 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. 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. Markets never sleep, and neither does Bloomberg News. 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. WebSafeway: 1-800-SAFEWAY. Ms. Allen is a Certified Public Accountant (Retired), and her extensive accounting and audit experience broadens the scope of our Boards oversight of our financial performance and reporting. Our stores nationally provide the opportunity to mobilize funding and create awareness in our neighborhoods. 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. 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. Gary Steadman has been working as a Store Director at Safeway for 7 years. There can be no assurance that this process will result in a superior proposal. This number represents the median, which is the midpoint of the ranges from our proprietary Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway Mr. Wille is currently a Senior Managing Director and Head of Consumer and Retail Private Equity at Cerberus, which he joined in 2006. Herringer is the chairman and former chief executive officer of Transamerica Corp., a financial services company. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. Regular Quarterly Dividends BrandSafway supports maintenance and refurbishment projects as well as new construction. Sharon L. Allen Director. Item 10. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. 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. 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. Ms. Allen served in various leadership roles at Deloitte Touche Tohmatsu Limited during her 40 years of service, including as U.S. Chairman of Deloitte from 2003 until her retirement in May 2011. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. 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. Register now. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. The FNIH encourages the public to take action during OctoberNational Breast Cancer Awareness Monthand help raise awareness and donate to this unique It also brings together two great organizations with talented management teams. About Albertsons 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 assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur. 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. 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."
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