US grocery retailer Safeway has said its chairman and chief executive Steve Burd has been re-elected, despite a campaign against him by some dissident shareholders.
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Safeway said shareholders voted 83% in favour of re-electing Burd. Several public pension funds had threatened to withhold votes for Burd, seeking better corporate governance and better treatment of employees.
Also re-elected at the meeting were directors Robert I. MacDonnell (85.3% voting in favour) and William Y. Tauscher (85.5% voting in favour).
“We are pleased by this strong expression of investor confidence and support,” said Burd. “This result shows that our shareholders understand and support our strategy, and they believe we have the team to execute it. The vote is consistent with feedback we have received from our investors over the past several weeks, and we thank our shareholders for their support.”
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By GlobalData
