Some shareholders challenge Safeway CEO

Five large public-employee pension funds are working together in an attempt to remove Steve Burd from his position as Safeway's chairman, president and CEO, arguing company shares have seriously underperformed. A Safeway spokesperson characterized the move as a "personal campaign against Mr. Burd" and union retaliation for the recent grocery strikes, arguing it has "nothing to do with legitimate corporate governance issues or his performance as CEO." Safeway said under Burd's direction, there has been an eight-fold increase in share price since 1993.

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