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WebMember of the Board of Directors, Caseys General Stores, Inc. since 2014 (also member of the Compensation (Chair) Committee; Member of the Board of Directors, International 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. Chan Galbato Co-chair. He currently serves on the board of Amgen Inc. and the Charles Schwab Corp. Oder was Safeways executive vice president of labor relations, human resources, legal and public affairs from 1993 to 2000. 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. The merger agreement was unanimously approved by the Board of Directors of Safeway. The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Item 10. If Safeway is unable to sell Casa Ley prior to the fourth anniversary of the Merger, Safeway shareholders will be entitled to receive the fair market value of Safeway's interest in Casa Ley at that time. We work hand in hand with local non-profit organizations to serve people in our neighborhoods where we operate. Learn about the organization's key goals, strategies, capabilities, and progress. 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. This announcement will be discussed on a conference call with analysts and investors, which is scheduled at 5:30 p.m. Eastern Time today. He joined the Board of Directors on September 7, Latham & Watkins LLP served as Safeway's outside legal counsel. 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. The Board can be contacted using one of the two methods below. AB Acquisition is the owner of Albertsons LLC and New Albertsons, Inc. 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. 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. 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. 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. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. Four powerful questions that require reflection about what really matters - results. He will retire from Visa on Sept. 30. Working together will enable us to create cost savings that translate into price reductions for our customers. If it is your nonprofit, add a problem overview. 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. Benzinga does not provide investment advice. The Casa Ley CVR will have a four-year term. Greenhill & Co. has also served as financial advisor to Safeway. "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. 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. WebMr. Connect and network with a community of food safety professionals throughout the supply chain. About Albertsons ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. 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 about GuideStar Pro. WebCasey's General Stores, Inc. ATTN: Darren Rebelez, President and Chief Executive Officer. Safeway's current Chief Financial Officer is Randy N Anderson. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. Global Corporate Headquarters Gary Steadman is a Store Director at Safeway based in Pleasanton, California. Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway All rights reserved. Prior to Weatherford, Garcia served as automotive supplier Visteons CFO and as Halliburtons acting CFO. 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. Get up-to-the-minute news sent straight to your device. Learn More Overnight on Wall Street is morning in Europe. Subscribe and follow. Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. Prior to that, he served as the company's president and chief operating officer, a position he was named to in 2016. Safeway Inc. and Albertsons announced a definitive agreement under which AB Acquisition LLC will acquire all outstanding shares of Safeway. 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. Try a low commitment monthly plan today. 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. Vivek joined Albertsons Companies, Inc. in April 2019 and serves as the companys Chief Executive Officer. If you are interested in partnering with us to eradicate hunger, please fill out an application below. 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. to get more GuideStar Nonprofit Profile data today! On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. Albertsons' Chief Executive Officer Bob Miller stated, "This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country. BrandSafway supports maintenance and refurbishment projects as well as new construction. WebBoard of Directors. Contact. 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. Mr. Wille has served as a member of our Board since 2020. 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? By visiting this website, certain cookies have already been set, which you may delete and block. Delta Board of Directors Names Vasant Prabhu as Newest Member. You must click the activation link in order to complete your subscription. Contact. You can sign up for additional alert options at any time. Working together will enable us to create cost savings that translate into price reductions for our customers. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. For more information about BrandSafway, visit www.brandsafway.com. general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). 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 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. 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.". Greenhill & Co. has also served as financial advisor to Safeway. He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. Stock Price Premium The merger agreement was unanimously approved by the Board of Directors of Safeway. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). We are pleased to have these talented leaders join the BrandSafway team, said John Krenicki, chairman of the board and acting CEO. Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. Prior to joining Safeway, he was a partner at Latham & Watkins, a Los Angeles law firm. There can be no assurance that this process will result in a superior proposal. Sign in or create an account to view Form(s) 990 for 2020, 2019 and 2018. Herringer is the chairman and former chief executive officer of Transamerica Corp., a financial services company. Mr. Galbato has served as Co-Chairman of our Board since 2021. For a competing bidder who did not qualify during the go-shop period, the termination fee would be $250 million. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 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. Safeway will soon be initiating a process to sell PDC. There can be no assurances that Safeway will be able to sell either or both of PDC or Casa Ley. Established in 1992, Cerberus Capital Management, L.P. is one of the world's leading private investment firms. 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. Email. He also served as a member of the Federal Accounting Standards Advisory Board from 2002 through June 2012. 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. 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. 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. Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement. Bob Miller, Albertsons current Chief Executive Officer, will become Executive Chairman. Safeway is part of the Grocery Retail industry, and located in California, United States. He has also held various positions at First Boston Corporation, an investment bank acquired by Credit Suisse. Thrifty Foods #106, 3030 Merchant Way Victoria, British Columbia V9B 0X1. 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. 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. Click on the link in that email 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. 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. 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. It also brings together two great organizations with talented management teams. No store closures are expected as a result of this transaction. There can be no assurance as to the value of PDC and/or Casa Ley or that Safeway shareholders will receive the amount of after-tax net proceeds estimated in this press release, or any amount. 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. What are the organization's current programs, how do they measure success, Registered in England and Wales. 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. ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Garcia is a three-time public company CFO with experience across all aspects of the financial function. 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. Realizing substantial cost savings will allow for investments that are expected to benefit customers, including price reductions as well as store remodels and refurbishments. 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. Sign in. The proceeds are from: Prior to Citadel, Mr. Turner served as COO of Microsoft Corporation, an American multinational technology corporation, from 2005 to 2016, and as CEO and President of Sams Club, an American chain of membership-only retail warehouse clubs owned and operated by Walmart Inc., from 2002 to 2005. 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." Want to see how you can enhance your nonprofit research and unlock more insights? Neither Safeway nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. 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. WebJoe Korngiebel is Chief Product and Technology Officer at Ceridian. These factors include: failure to obtain shareholder approval of the proposed merger; failure to obtain, delays in obtaining or adverse conditions contained in any required regulatory or other approvals; failure to consummate or delay in consummating the transaction for other reasons; changes in laws or regulations; and changes in general economic conditions. The Casa Ley CVR will have a four-year term. 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. Property Development Centers and Casa Ley 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. 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. Item 10. We are excited about continuing this momentum as a combined organization. On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. Delta Board of Directors Names Vasant Prabhu as Newest Member. Visit Salary.com to find out Safeway Electronics salary, Safeway Electronics pay rate, and more. Working together will enable us to create cost savings that translate into price reductions for our customers. Grocery industry veteran Larree M. Renda has been elected to the board of directors of discount apparel retailer Ross Stores Inc., effective immediately. 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. 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 Safeway Location 1555 Dublin Canyon Rd, Pleasanton, California, 94588, United States Description Industry Grocery Retail Retail Discover more about Safeway 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. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. Chief Executive Officer & Director: 59: 2021: Sharon McCollam: President & Chief Financial Officer: 60: 2021: Anuj Dhanda: Chief Information Officer & Executive VP: 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. It also brings together two great organizations with talented management teams. about GuideStar Pro. 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. Additionally, his deep experience in the financial services industry provides our Board valuable insight into the Companys risk management, financial performance, and strategic plan. Box 3001. For more information, please visit www.Albertsons.com. 1325 Cobb International Drive, Ste. 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. The merger agreement was unanimously approved by the Board of Directors of Safeway. Ms. West was involved with some of the food industrys most iconic brands such as Kraft Macaroni and Cheese, Oreo, and Maxwell House coffee during her tenure at Kraft Foods. 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.