All but two members of Safeway's board of directors are independent under standards established by the New York Stock Exchange (NYSE) and our own independence standards, which go beyond the NYSE's standards. In addition, because our Chief Executive Officer, Steve Burd, serves as Chairman of the Board, we established the position of Lead Independent Director.
Among its numerous responsibilities in supervising and directing Safeway management, the board and its committees review and approve the company’s major financial objectives, plans and actions.
The board has adopted a set of corporate governance guidelines to assist in the exercise of its responsibilities to serve the best interests of the company and its stockholders. The corporate governance guidelines are available online at www.safeway.com/investor_relations.
