Dissident shareholders of US grocery retailer Safeway are reportedly set to begin a campaign to oust CEO Steven Burd.
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The campaign, led by five pension funds, also aims to oust directors William Tauscher and Robert I MacDonnell, reported the Wall Street Journal. Tauscher is head of the board’s compensation committee and serves on two other panels, while MacDonnell serves on the compensation and audit panels.
The shareholders hope to force the departure of the three men by withholding votes for their re-election at the company’s annual meeting on 20 May.
