Safeway Stockholders Kill 5 Proposals, 3 Green-Related

Press enter to search
Close search
Open Menu

Safeway Stockholders Kill 5 Proposals, 3 Green-Related

05/18/2007
PLEASANTON, Calif. -- Safeway Inc. stockholders elected each of the nine directors by a vote percentage of 97 percent or better, approved the 2007 equity and incentive award plan, approved the amended and restated capital performance bonus plan, and approved the appointment of Deloitte & Touche LLP to serve as the Company's independent auditors for the 2007 fiscal year with a stockholder vote held yesterday at the company's annual meeting.

Five stockholder proposals presented at the meeting were each defeated by the following approximate vote percentages: Cumulative voting, 63 percent against; Independent director as chairman of the board, 86 percent against; Labeling products of cloning or genetic engineering, 92 percent against; Sustainability report, 60 percent against; Report on controlled-atmosphere killing, 91 percent against.

Final vote totals will be filed with Safeway's Q2 Form 10-Q in late July.

Safeway operates 1,755 stores in the United States and Canada and had annual sales of $40.2 billion in 2006.