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Safeway names new CEO

The Associated Press

Safeway Inc. says Robert Edwards will become CEO when current chief executive Steven Burd retires in May.

Edwards, 57, is currently president of the national supermarket chain and has served in a number of leadership positions since joining the company in 2004. Before Safeway, Edwards was a senior executive with Maxtor Corp., Imation Corp. and Santa Fe Pacific Corp.

Burd has been CEO and chairman of Safeway since 1993.

Safeway also said Monday that board member T. Gary Rogers, 70, will become non-executive chairman when Burd retires.

Shares of Pleasanton, Calif-based Safeway rose 20 cents to close at $23.51 amid a broad market rally.