Inside This Issue - News
Edwards takes helm at Safeway
May 6th, 2013
PLEASANTON, Calif. – Safeway Inc. president Robert Edwards will succeed outgoing chief executive officer Steve Burd on May 14.
The 57-year-old Edwards joined Safeway as executive vice president and chief financial officer in 2004. In April 2012 he was named president, with responsibility for retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions. He continued as CFO until Peter Bocian succeeded him in that role in February.
Prior to joining Safeway, Edwards was a senior executive at Maxtor Corp., Imation Corp. and Santa Fe Pacific Corp. He serves as a director on KKR Financial Holdings LLC and Blackhawk Network Holdings Inc., a subsidiary of Safeway.
"Since he arrived here in 2004 Robert has successfully met every challenge he has faced," said Burd. "He has demonstrated the ability to lead the company in all facets of its operations, and has earned the respect of the entire organization."
T. Gary Rogers, the company’s lead independent director, will become nonexecutive chairman upon Burd’s retirement as chairman and CEO.
Rogers, 70, has been a member of Safeway’s board since March 2011. He is former chairman and CEO of Dreyer’s Grand Ice Cream Inc., where he led the development of the nation’s largest ice cream company from 1977 to 2007. He later served as nonexecutive chairman of Levi Strauss & Co. and the Federal Reserve Bank of San Francisco.
"The board undertook a thorough search and concluded that Robert is the best candidate to lead Safeway," said Rogers. "He has the talent and experience that give the board confidence that he will be a successful CEO."
Safeway’s first quarter sales fell short of Wall Street expectations as the chain sacrificed profits to keep prices down. Net sales slipped to $9.99 billion from $10 billion a year ago as the supermarketer sold its Genuardi’s outlets. Analysts had expected revenue of $10.15 billion.
Net income for the quarter rose as a result of tax benefits.