Safeway CEO Burd Loses Fund’s Backing
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From Bloomberg News
The $32.7-billion Massachusetts state pension fund will withhold proxy votes to reelect Safeway Inc. Chairman and Chief Executive Steven Burd and two board members because of the company’s performance and corporate governance issues.
State Treasurer Timothy Cahill, chairman of the Massachusetts Pension Reserves Investment Management Board, said the pension fund was withholding votes from Burd, Robert MacDonnell and William Tauscher.
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