Safeway Responds to Report on Campaign to Oust Burd

PLEASANTON, Calif. - Safeway Inc. on Thursday released a response to the recent announcement of a pension fund campaign directed at members of the company's board of directors.

Brian Dowling, v.p. of Safeway Inc., called the campaign "an attempt -- at the behest of union leadership -- to pressure a company that has taken decisive action in labor issues and moved to restructure its labor costs."

Dowling added: "Union leadership has threatened to attack Safeway c.e.o. Steve Burd and individual members of Safeway's board as a pressure tactic to get better results during labor negotiations, and these union backed pension funds are carrying through on that threat.

"Safeway has produced excellent results for shareholders including an eight-fold increase in the share price since Steve Burd joined the company as c.e.o. The company has acted decisively in times of challenge, aggressively reinvests in its stores, and has a sound vision for the future which is fully supported by Safeway's Board of Directors," he said.
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