LOS ANGELES 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)