SAFEWAY SEES 83% VOTE AS VINDICATION OF BURD

PLEASANTON, Calif. -- Safeway said it sees the shareholder vote to re-elect Steve Burd as chairman at its annual meeting here last week as a sign of support for the embattled executive and a validation of his strategies.Eighty-three percent of shareholders voted to re-elect Burd, who also holds the titles of chief executive officer and president, despite an effort by a coalition of institutional investors

PLEASANTON, Calif. -- Safeway said it sees the shareholder vote to re-elect Steve Burd as chairman at its annual meeting here last week as a sign of support for the embattled executive and a validation of his strategies.

Eighty-three percent of shareholders voted to re-elect Burd, who also holds the titles of chief executive officer and president, despite an effort by a coalition of institutional investors to put pressure on the board to remove him.

The dissident investors had

Register to view the full article

test - Advanced Registered User

Already a member? .