Safeway Expands Board

Safeway Inc. (SWY), the third-largest supermarket chain in North America, recently appointed Arun Sarin and Michael S. Shannon to its Board of Directors, expanding the number of members from 10 to 12. With these appointments, management brings on board some key industry experts. Arun Sarin has served the telecommunications industry for most of his career. He was the CEO of Vodafone Group Plc (VOD), the world's largest mobile phone company by revenue, for a considerable time period. He was also the board member of companies like Gap Inc. (GPS), Charles Schwab Corp. (SCHW) and Cisco Systems Inc. (CSCO). Michael S. Shannon was the founder of KSL Capital Partners LLC - a leading private equity firm primarily investing in travel and leisure businesses. He was the founder and CEO of KSL Resorts. During his long career, he served as a director of Conseco Inc. (CNO), TCA Cable TV Inc., Startek Inc. (SRT) and ING Americas Holdings. He is currently a board member of ING Direct, the Vail Valley Foundation, the United States Ski and Snowboard Association and Eisenhower Memorial Hospital. Safeway would like to capitalize on the valuable insights provided by these two experienced professionals and benefit from their vast, in-depth knowledge of various industry verticals.

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