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.
Go deeper with GlobalData
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.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
