Safeway names Edwards to succeed Burd as CEO

LOS ANGELES Mon Apr 29, 2013 5:37pm EDT

A sign for a Safeway grocery store is shown in San Francisco, California, February 23, 2009. REUTERS/Robert Galbraith

A sign for a Safeway grocery store is shown in San Francisco, California, February 23, 2009.

Credit: Reuters/Robert Galbraith

LOS ANGELES (Reuters) - Safeway Inc (SWY.N) on Monday said Robert Edwards, the supermarket operator's president, will succeed Steven Burd as chief executive when Burd retires from the chairman and CEO posts on May 14.

Edwards, 57, also will join the company's board of directors.

Edwards joined Safeway as executive vice president and chief financial officer in 2004. In April 2012, he was named president in charge of retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions. He continued as CFO until Peter Bocian succeeded him in that role in February.

T. Gary Rogers, currently Safeway's lead independent director, will become the company's non-executive chairman upon Burd's departure.

Shares in Safeway rose 0.1 percent to $23.54 in after-hours trading following the news.

(Reporting by Lisa Baertlein in Los Angeles; Editing by Leslie Adler)

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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