Safeway Completes Board Makeover
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Supermarket giant Safeway Inc. named retired General Mills Inc. executive Raymond Viault to its board Wednesday, completing a makeover spurred by shareholders who wanted to be represented by directors with fewer ties to management.
Viault, a General Mills vice chairman until his retirement this year, will replace Hector Ley Lopez, who runs a Mexico-based chain in which Safeway owns a 49% interest. The change in the board’s composition will become effective Dec. 15.
Pleasanton, Calif.-based Safeway has replaced one-third of its nine-member board since major shareholders urged a shake-up last spring.
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