SAFEWAY PROPOSES YEARLY ELECTION OF BOARD DIRECTORS

PLEASANTON, Calif. -- The decision by Safeway to declassify its board of directors at its annual meeting later this year is based on circumstances unique to Safeway and is unlikely to prompt other chains with classified boards to change their approach to corporate governance, industry analysts told SN.Safeway's nine-member board is divided into three classes, with one-third of the directors elected

PLEASANTON, Calif. -- The decision by Safeway to declassify its board of directors at its annual meeting later this year is based on circumstances unique to Safeway and is unlikely to prompt other chains with classified boards to change their approach to corporate governance, industry analysts told SN.

Safeway's nine-member board is divided into three classes, with one-third of the directors elected annually for three-year terms. Safeway said earlier this month it plans to declassify

Register to view the full article