Safeway announced yesterday (29 April) that the company’s current president, Robert Edwards, will succeed Steve Burd as chairman and chief executive.
Burd is due to retire on 14 May, when Edwards will take up the reigns.
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Edwards has a strong track record with Safeway. He joined the group in 2004 as EVP and chief financial officer, a role he held until last month. In 2012, he was named president with responsibility for retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions.
The appointment of a Safeway insider suggests the company is largely comfortable with its current direction, as it faces increasingly difficult trading conditions. And it would seem investors concur: shares in the group edged up slightly on the NYSE, climbing to $23.52, after the well-flagged appointment was made public yesterday.
For just-food’s previous analysis of the challenges facing Safeway’s incoming CEO, click here.
