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Dominick's CEO to Resign, Safeway Says

November 10, 1998| Bloomberg News

Safeway Inc. said Dominick's Supermarkets Inc. President and Chief Executive Robert Mariano will resign after the second-largest U.S. supermarket chain completes its purchase of Dominick's. Tim Hakin, vice president of corporate retail operations for Safeway, was named to succeed Mariano, said Pleasanton-based Safeway. Safeway last month agreed to pay $1.85 billion in cash and assumed debt for Dominick's, a Chicago-area chain with 112 stores. The purchase is expected to close this month. Safeway operates 1,381 stores in the U.S. and Canada. It will continue to operate the newly acquired Chicago stores under the Dominick's name. Safeway shares fell 6 cents to close at $49.94; Dominick's rose 6 cents to close at $48.94. Both trade on the NYSE.

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