Steve Burd to retire as Safeway chairman and CEO

Safeway Inc., Pleasanton, Calif., announced that Steve Burd, the retailer’s long-time chairman and CEO, will retire as CEO and as a director at the companys annual stockholders meeting on May 14. The board of directors will begin a search for a successor, and will consider both internal and external candidates for the job. Burd will help with the search and will continue to assist Safeway after he transitions out of his leadership posts.

Burd joined Safeway in October 1992 as president and was appointed CEO in May of the following year. As CEO, he has been responsible for transforming the company over an unprecedented 20 years at the helm, Safeway said.

Among Burd’s key initiatives were establishing a culture of thrift and capital discipline, creating an industry-leading customer service program, developing the "Lifestyle" store format, introducing a level of quality in perishable products that had never been seen in food retailing, and forming a leading prepaid payment network that has become one of the largest distributors of gift cards in the world. He also accelerated Safeway’s efforts in charitable giving and sustainability. During his tenure, the retailer noted, the company raised more than $2 billion for charities, including over $200 million for cancer research.

"I feel this is the right time to move forward with a transition plan," Burd said. "The company is gaining market share with each passing quarter. We have developed the most sophisticated digital marketing platform in retail, we are implementing the most comprehensive and personalized fuel loyalty program, and we will be rolling out a wellness initiative that has the potential to transform the company."