Safeway CEO's pay dips slightly as bonus falls

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Associated Press

Posted on April 1, 2013 at 1:00 PM

Updated Monday, Apr 1 at 1:02 PM

NEW YORK (AP) — Safeway CEO Steve Burd took a slight pay cut in 2012 as the grocery store operator slashed his performance-based bonus.

The Pleasanton, Calif.-based company gave Burd a pay package worth $9.91 million for the year, which was down 1 percent from the $9.97 million he was given in 2011, according to an Associated Press analysis of a filing with the Securities and Exchange Commission.

Safeway announced earlier this year that Burd would retire in May after more than 20 years with the company.

Burd, who started at Safeway in 1992 as president and became CEO a few months later, has said he wants to spend more time pursuing work in health care, which has been a focal point for the grocery chain in recent years.

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