Former Giant Eagle CFO heads to Family Dollar
MATTHEWS, N.C. — Family Dollar has named Mary Winston to the position of EVP and CFO. Winston will report to Howard Levine, chairman and CEO, and will have executive responsibility for Family Dollar’s financial operations, including accounting, treasury, tax, financial planning, investor relations and internal audit.
“With more than 25 years of financial management and leadership experience, Mary is an excellent addition to our team,” Levine said. “Her extensive financial experience, combined with her strong communication and analytical skills, make her a great choice to help us execute against our strategic plan to expand our market share and drive greater financial returns.”
In conjunction with this change, Kenneth Smith, former SVP and CFO, expects to leave the company, serving in a transition role as SVP finance until October 2012.
“Throughout his 22-year tenure with the company, Ken has made significant contributions to Family Dollar in a variety of financial and operational areas,” Levine said. “Under his leadership, Family Dollar has strengthened its financial position and delivered strong returns to shareholders. I sincerely thank him for his service to Family Dollar and appreciate that we will continue to benefit from his expertise during the transition.”
Prior to joining Family Dollar, Winston served for four years as SVP and CFO of Giant Eagle. She also previously served as EVP and CFO of Scholastic, a children’s publishing and media company; as VP, treasurer and then controller of Visteon, an automotive parts supplier; and as Pfizer’s VP global financial operations.
Walgreens increases quarterly dividend
DEERFIELD, Ill. — Walgreens announced that its board of directors has declared a quarterly dividend of 22.5 cents per share, a 28.6% increase over the year-ago dividend.
The dividend is payable June 12 to shareholders of record on May 21. The drug store chain noted it has paid a dividend in 318 straight quarters (more than 79 years) and has raised its dividend for 36 consecutive years. What’s more, the company’s annual dividend rate has risen from 31 cents per share to 90 cents per share over the last five years.
Safeway’s finance chief adds president to role
PLEASANTON, Calif. — Safeway on Monday evening promoted Robert Edwards to president of the company. Edwards had served as Safeway’s EVP and CFO since 2004.
"Robert is one of those unusual executives with a strong command of both the financial and operational sides of our business," Safeway chairman and CEO Steve Burd said. "His deep engagement with our operations and marketing units while he has been CFO will make for a seamless transition to Robert’s new role. His assumption of these new duties provides me an opportunity to concentrate more of my time on innovation and a range of strategic initiatives that will drive core and noncore business growth in the long term."
Edwards, 56, will have overall responsibility for the company’s retail operations, marketing, merchandising, corporate brands, manufacturing, distribution and finance functions. He will continue as CFO until a successor is named to the position.
The company also announced that Larree Renda, 53, EVP, will assume additional responsibilities for real estate and information technology, in addition to managing human resources and labor relations, strategic initiatives, corporate social responsibility, government relations, public affairs and Safeway Health.
"We are taking one of our most productive and talented executives and broadening her duties to include oversight of two key functions," Burd said. "Both of these changes to our management structure will further strengthen our senior team and our ability to deliver sustainable growth."
Before joining Safeway, Edwards served as EVP and CFO at Maxtor and was SVP, CFO and CAO at Imation. Prior to that, Edwards had a 20-year career at Santa Fe Southern Pacific Corp. and its affiliates. He currently serves on the Boards of Blackhawk Network Holdings, Casa Ley, S.A. de C.V., Safeway’s joint venture in Mexico, and KKR Financial Holdings.
Renda began her career at retail with Safeway in 1974. After progressing through the store ranks, she joined the corporate team in 1991 as VP retail and advanced through a succession of more senior leadership roles to her current position as EVP. Renda chairs the Safeway Foundation board of directors and serves on the board of Casa Ley. She is also on the board of HSBC Finance Corp. and HSBC North America Holdings. Renda is a trustee on the National Joint Labor Management Committee.