ATLANTA, April 28, 2023 - Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Contacts: Investors: Christiane Pelz or Melissa Plaisance Safeway (925) 467-3832 or (925) 467-3136 Albertsons' Chief Executive Officer Bob Miller stated, "This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country. aka SAFEWAY FOUNDATION | Pleasanton, CA | www.safewayfoundation.org. By visiting this website, certain cookies have already been set, which you may delete and block. Evaluate the most effective solutions with interactive exhibits from leading suppliers. WebMember of the Board of Directors, Caseys General Stores, Inc. since 2014 (also member of the Compensation (Chair) Committee; Member of the Board of Directors, International Ms. West has served on the boards of Hasbro, Inc. a global play and entertainment company, since June 2016 and Lowes Inc., a home improvement retailer, since April 2021. View all management team This profile has not been claimed. Before joining PepsiCo in 2009, Vivek was a partner at McKinsey and Company, where he served various Fortune 100 companies bringing a strong focus on strategy and operations. Has the board conducted a formal, written self-assessment of its performance within the past three years? Vivek most recently served as CEO of PepsiCo Foods North America. Immediately after the Merger, the Board of Directors of Safeway was reconstituted such that Robert G. Miller, Robert L. Edwards, Howard Cohen, Ronald Shopping Companies With More Than 10 Employees, Health Care Acquired Companies With More Than 500 Employees, Shopping Acquired Companies With More Than $1M in Revenue, E-Commerce Companies With More Than $500 in Revenue, Retail Acquired Companies With More Than $500 in Revenue, Internet Companies With More Than $500 in Revenue, Food and Beverage Acquired Companies With More Than 500 Employees, Health Care Acquired Companies With More Than $50M in Revenue, Total number of current Advisors and Board roles the person has, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Organization Name: This is the name of the organization, Title At Company: Title of a Person's Job, Start Date: Start date of the Person's Job, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Number of news articles that reference the Person, Executive Vice President and Chief Financial Officer, TalentSky Is Building A Professional Network With A Focus On Verified Skills, Target beefs up board, former CEOs of Safeway, Clorox. WebSteve Burd is Former Chairman/CEO at Safeway Inc. See Steve Burd's compensation, career history, education, & memberships. For a 15-day period following the termination of the go-shop period, Safeway will be permitted to continue discussions and enter into or recommend a transaction with any person that submitted a qualifying proposal during the 21-day period. Highlight your management teams expertise. The monetization of its 49% equity interest in Mexico-based food and general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). Robert Edwards is the former President and Chief Executive Officer of AB Acquisition LLC, a North American food and drug retail company, a position he held from Albertsons acquisition of Safeway Inc. in January 2015 to April 2015. The estimated values for PDC and Casa Ley are based on analyses that Safeway has performed with the help of financial advisors, valuations from independent third parties and market information. The merger agreement was unanimously approved by the Board of Directors of Safeway. Item 10. Mr. Wille has served as a director of NexTier Oilfield Solutions Inc., a provider of hydraulic fracturing, wireline technologies and drilling services, since March 2011. The monetization of its 49% equity interest in Mexico-based food and. Information regarding the persons who may, under the rules of the SEC, be considered participants in the solicitation of the shareholders of Safeway in connection with the proposed acquisition will be set forth in the proxy statement and the other relevant documents to be filed with the SEC. The Merger is expected to close in the fourth quarter of 2014 following the satisfaction of customary closing conditions, including approval of the Merger by the holders of a majority of the outstanding shares of Safeway common stock and regulatory approvals including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This press release contains certain forward-looking statements about the future performance of Safeway, including about the combined Safeway/Albertsons business (the "Combined Entity"). Under the merger agreement, Safeway shareholders will receive $32.50 per share in cash. The combined value of the transactions described above is expected to deliver a premium to Safeway's shareholders of 72% from one year ago, and 56% over the share price six months ago," said Robert Edwards, President & Chief Executive Officer of Safeway Inc. "Safeway has been focused on better meeting shoppers' diverse needs through local, relevant assortment, an improved price/value proposition and a great shopping experience that has driven improved sales trends. Additionally, shareholders will have the right to receive pro-rata distributions of net proceeds from primarily non-core assets with an estimated value of $3.65 per share. Mr. Wille has served as a member of our Board since 2020. Visit our updated, This website requires certain cookies to work and uses other cookies to help you have the best experience. The Board can be contacted using one of the two methods below. The final ratio and the value of the Blackhawk shares will be determined at the time of the distribution and will depend on the market value of Blackhawk at that time and the number of diluted Safeway shares. The combined value of the transactions described above is expected to deliver a premium to Safeway's shareholders of 72% from one year ago, and 56% over the share price six months ago," said Robert Edwards, President & Chief Executive Officer of Safeway Inc. "Safeway has been focused on better meeting shoppers' diverse needs through local, relevant assortment, an improved price/value proposition and a great shopping experience that has driven improved sales trends. On a combined basis, the value of the CVRs is estimated in the range of $3.45 to $3.85 per share. In connection with the proposed merger transaction, Safeway will file with the SEC and furnish to Safeway's shareholders a proxy statement and other relevant documents. Sign in. AB Acquisition will assume the corporate tax on the distribution of Blackhawk shares to Safeway's shareholders. This will direct queries through the Office of the Senior Vice President, General Counsel, and Corporate Secretary. The actual net after-tax proceeds received upon a sale could vary substantially from these estimates. A GuideStar Pro report containing the following information is available for this organization: This information is only available for subscribers and in Premium reports. If Safeway is unable to sell Casa Ley prior to the fourth anniversary of the Merger, Safeway shareholders will be entitled to receive the fair market value of Safeway's interest in Casa Ley at that time. Additional Information and Where to Find It Formed in 2008, PDC is a wholly owned subsidiary of Safeway Inc., engaged in retail shopping center development and capitalizing on Safeway's core real estate competency. Safeway owns 49% of Casa Ley, the fifth largest food and general merchandise retailer in Mexico based on sales. The merger agreement was unanimously approved by the Board of Directors of Safeway. As one of the largest grocery retailers in North America, we find that supporting hunger relief programs is a natural fit for us. The company operates 1,335 stores in 20 states and the District of Columbia, 13 distribution centers and 20 manufacturing plants, and employs approximately 138,000 employees. The Blackhawk distribution is intended to maximize the value of Safeway's long-term investment in Blackhawk, which the Board determined to be in the best interests of Safeway, Blackhawk, and the shareholders of both companies. "Similarly, Safeway has consistently provided outstanding value and customer service throughout the communities it serves. Safeway Board Members Name & TitleBio Robert Miller CEO Doug MacKenzie Board Member Gary Rogers Board Member George Charters Board Previously, Gary was a Director, Online Business Education at Portla nd State University and also held positions at InsideTrack, InsideTrack, Safeway. These statements are indicated by words such as "expects," "will," "plans," "intends," "committed to," "estimates" and "is." If the sales of PDC and/or Casa Ley are completed prior to the closing of the Merger, the net proceeds from these sales will be paid to shareholders at or before the closing of the Merger in a special dividend. Email. Monitor your investments 24 hours a day, around the clock from around the globe. The merger agreement allows Safeway to pay its regular quarterly dividends over the next 12 months, prior to closing, and to increase the dividend within certain limits, assuming the deal is closed during that time period. Number 8860726. Kenneth Oder Board Member. Plus expansion candidates and more, Tucson restaurant lands No. Our stores nationally provide the opportunity to mobilize funding and create awareness in our neighborhoods. 4/30/2023 1:10 PM. Prior to Core Scientific, Mr. Turner was a CEO of Citadel Securities and Vice Chairman of Citadel LLC, both global financial institutions. WebB. No, it never stops, Kroger, Albertsons may need to divest even more stores, Thoughts on the Kroger, Albertsons merger (Part 3). About Albertsons P.O. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. From its headquarters in New York City and large network of affiliate and advisory offices in the US, Europe and Asia, Cerberus has the on-the-ground presence to invest in multiple sectors, through multiple investment strategies in countries around the world. Property Development Centers and Casa Ley All Rights Reserved BNP Media. Accordingly, actual results may differ materially and adversely from those expressed in any forward-looking statements. This number represents the median, which is the midpoint of the ranges from our proprietary Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. Value to Safeway Shareholders By closing this message or continuing to use our site, you agree to the use of cookies. Item 10. Seafood prices up a tick; sales remain solid, Podcast: Mission complete? Ms. Allen currently serves on the board of Bank of America Corporation and served as a director of First Solar, Inc., a manufacturer of solar panels and a provider of utility-scale PV power plants and supporting services from 2013 to 2022. The people, governance practices, and partners that make the organization tick. Kevin Turner (born April 3, 1965) is an American businessman and investor who is currently the chairman of Zayo Group and the vice chairman of Albertsons / Safeway Inc. "Albertsons has successfully transformed underperforming retail grocery stores into strong performers by focusing on enhancing the local customer experience," said Lenard Tessler, Co-Head of Global Private Equity and Senior Managing Director at Cerberus. For more information, please visit www.Albertsons.com. He also served as a member of the Federal Accounting Standards Advisory Board from 2002 through June 2012. Since 2000, he has served as a director and board president of Los Angeles Public Counsel, a pro bono organization. The Merger will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees. Copyright 2023. This organization is required to file an IRS Form 990 or 990-EZ. During the extended time, Safeway would not be permitted to pay a dividend to its shareholders but shareholders would receive additional cash consideration equal to 6% per annum on the $32.50 per share cash price for the number of days that pass during the three month extension until closing. Contact the Board of Directors. Do Not Sell or Share My Personal Information. Read More . Learn More Mr. Schumacher has served as a member of our Board since 2015. Together, we will be able to respond to local needs more quickly and deliver outstanding products at the lowest possible price, more efficiently than ever before. Mr. Fennebresque has served as a senior advisor to Cowen Group Inc., a diversified financial services firm, since 2008, where he also served as its Chairman, President and Chief Executive Officer from 1999 to 2008. and Albertsons announced today a definitive agreement under which AB Acquisition LLC ("AB Acquisition") will acquire all outstanding shares of Safeway (the "Merger"). BOARD OF DIRECTORS Officers President & Chairman Scott Drew President Smart & Final Commerce, CA Vice President Paul Gianetto SVP Sales & One of the most feared players in the NFL, the soft-spoken Ndamukong Suh has amassed an impressive real estate portfolio and hopes to use property to close the wealth gap for people of color. AB Acquisition is the owner of Albertson's LLC and New Albertson's, Inc. (collectively "Albertsons") and is controlled by a Cerberus Capital Management, L.P. ("Cerberus")-led investor group, which also includes Kimco Realty Corporation (NYSE:KIM), Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation. Vivek Sankaran Chief Executive Officer and Director. AB Acquisition is the owner of Albertson's LLC and New Albertson's, Inc. (collectively "Albertsons") and is controlled by a Cerberus Capital Management, L.P. ("Cerberus")-led investor group, which also includes Kimco Realty Corporation. It is also anticipated that there will be a step up in Blackhawk's tax basis in assets which could generate approximately $30 million in cash tax savings per annum for Blackhawk. Mr. Gibson serves on various private boards and his knowledge of capital markets enhances the ability of our Board to make prudent financial judgments and provides our Board insight into and understanding of our financial performance and plan. Safeway's existing indebtedness is contemplated to be repaid at closing, other than capital leases and the company's 5.00% Senior Notes due 2019, 3.95% Notes due 2020, 4.75% Senior Notes due 2021, 7.45% Debentures due 2027 and 7.25% Debentures due 2031. The sale of the assets of real-estate development subsidiary Property Development Centers, LLC ("PDC") comprised of its shopping center portfolio including certain related Safeway stores, and General Manager and Vice President of Information Technology at Safeway Philtech . The company's common stock is traded on the New York Stock Exchange under the symbol SWY. A successful competing bidder who makes a superior proposal during the go-shop period would bear a $150 million termination fee. Between 1985 and 2002, Mr. Turner held several positions of increasing responsibility with Wal-Mart, including Executive Vice President and Global Chief Information Officer from 2001 to 2002. Prior to that, Mr. Donald served as our President and Chief Executive Officer from September 2018 to April 2019 and before then as our President and Chief Operating Officer from March 2018 to September 2018. WebDirector - Chris Arlaud Director - Thom Brown Director - Tom Freeland Director - Cathy Kloos Director - Jeff Mason Director - Nicole Neumann Director - Debbie Portwood Director - Susan Probst Director - Cathleen Cox Stugard Director - Carla Thuney Director - Lisa Umali Advisor - Dian Emerson Advisor - Carolyn Wimberly If the sales of PDC and/or Casa Ley are completed prior to the closing of the Merger, the net proceeds from these sales will be paid to shareholders at or before the closing of the Merger in a special dividend. Safeway does not intend to disclose developments with respect to the solicitation process unless and until its Board has made a decision with respect to any potential superior proposal. Petco elected Safeways SVP and CIO David Ching to its board of directors. Click here to resend it.). Learn more 5 things: Dollar stores are trading inflation for loyalty, Data security breach may have exposed Albertsons employee info, Trader Joes workers vote yes to a union in California, 5 things top news: Kroger hit with another lawsuit, 2023 Informa USA, Inc., All rights reserved, Snack idea might help lethargic seafood sales, Theres a sense for something good at IDBBA 2023. Investors will be able to obtain a free copy of documents filed with the SEC at the SEC's website at http://www.sec.gov. After submitting your request, you will receive an activation email to the requested email address. 1325 Cobb International Drive, Ste. Subscribe to stay connected to Tucson. (515) 446-6218 (Phone) (515) 963-3845 (Fax) darren.rebelez@caseys.com. general merchandise retailer Casa Ley, S.A. de C.V. ("Casa Ley"). 250-483-1600. WebBoard N-1 President & CEO Vivek Sankaran Move Vice Chairman Of The Board Kevin Turner Move Co-Chairman Jim Donald Move Co-Chairman of the Board Chan Galbato The 25th annual Food Safety Summit is the industry's premier event connecting food safety professionals throughout the supply chain with timely, actionable information and practical solutions to improve food safety! The merger agreement was unanimously approved by the Board of Directors of Safeway. He most recently served as oil field services supplier Weatherfords CFO. WebCasey's General Stores, Inc. ATTN: Darren Rebelez, President and Chief Executive Officer. Prior to Centaurus, Mr. Gibson served as Senior Vice President of institutional asset management at Royal Bank of Canada from February 2008 until April 2011. A-1 This document may be deemed to be solicitation materials in respect of the proposed acquisition of Safeway by AB Acquisition. Ms. Allen also served as a member of the Global Board of Directors, Chair of the Global Risk Committee and U.S. Representative of the Global Governance Committee of Deloitte during this time. 2023 Benzinga.com. The Blackhawk distribution is not dependent upon the completion of the Acquisition, and is being undertaken for independent business reasons. During the extended time, Safeway would not be permitted to pay a dividend to its shareholders but shareholders would receive additional cash consideration equal to 6% per annum on the $32.50 per share cash price for the number of days that pass during the three month extension until closing. Our stores provide the opportunity to mobilize funding and create awareness in our neighborhoods through our employees' passion, partnerships with our vendors, and generous contributions by our customers. Stock Price Premium The diversified network of retail assets, associated distribution centers and manufacturing assets will allow for a broader assortment of products, a more efficient distribution and supply chain, enhanced fresh and perishable offerings, and expanded private label alternatives for customers. Forward-Looking Statements Kim Want to see how you can enhance your nonprofit research and unlock more insights? Dreiling serves as the Lead Independent Director of the Lowes Board of Directors. They are part of Information Technology Department and If it is your nonprofit, add a problem overview. Mr. Wille previously served as a director of the Company from January 2015 to June 2020. Cameron Thistle works as a Director, Retail Support at Safeway Canada, which is a Retail company with an estimated 170 employees. Vivek has an MBA from the University of Michigan, a master's degree in manufacturing from Georgia Institute of Technology and a bachelor's degree in mechanical engineering from the Indian Institute of Technology in Chennai. He has been Chief Financial officer since 2015 and was The Merger will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees. AB Acquisition is the owner of Albertson's LLC and New Albertson's Inc. and is controlled by a Cerberus Delta Air Lines' (NYSE:DAL) board of directors today announced Vasant Prabhu as its newest member. Summary Programs + Results Financials Operations. The company is well positioned for continued success and growth.. Safeway and Albertson's announced Thursday they have entered into a definitive merger agreement. Do Not Sell My Personal Data/Privacy Policy. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. The initial go-shop period is 21 days. Four powerful questions that require reflection about what really matters - results. Safeway has begun discussions with the majority owners of Casa Ley regarding a potential sale of Safeway's interests. We focus on giving locally in the areas of Education; Hunger Relief; Health and Human Services; and Helping People Living with Disabilities. As a result of the Merger, plus other actions to be taken by the Safeway Board of Directors as described below, including the separate sales of certain other primarily non-core assets, and the distribution of Blackhawk shares, Safeway shareholders are expected to receive total value estimated at $40 per share. I am excited to join BrandSafway, a market leader with an outstanding team, a strong commitment to safety, and the broadest portfolio of services and products in the industry, said Fessenden. WebSafeway has 7 board members and advisors, including Jack Sinclair. What are the organization's current programs, how do they measure success, PLEASANTON, Calif. Safeway Inc. announced the appointment of Frank Herringer and Kenneth Oder to the companys board of directors, expanding the board He spent 14 years with General Electric, during which time he served in several operating and finance leadership positions within various industrial divisions and as President and CEO of Coregis, a GE Capital company. 11555 Dublin Canyon Rd The Albertsons Companies Foundation, Email contact available with a Pro subscription. The combined value for Safeway shareholders who receive both a distribution of Blackhawk shares and the aggregate cash and contingent consideration in the Merger, based on Safeway's current estimates of the value of the contingent consideration, would represent a premium of 72 percent over Safeway's closing share price of $23.27 on March 6, 2013, one year ago; 56 percent over Safeway's closing price of $25.62 on September 6, 2013, six months ago; and 17 percent over Safeway's closing share price of $34.10 on February 18, 2014, the day before Safeway announced it was in discussions regarding a potential sale of the company. Kennesaw, GA 30152, Spider Powered Suspended Access Solutions. The FNIH could not have launched I-SPY 2 without the generous contributions from The Safeway Foundation, said Dr. Scott Campbell, Former Executive Director and CEO of the FNIH. Robert Edwards, Safeway's current President and Chief Executive Officer, will become President and Chief Executive Officer of the combined company. Established in 2006, AB Acquisition LLC ("Albertsons"), which operates ACME, Albertsons, Jewel-Osco, Lucky, Shaw's, Star Market and Super Saver, and stores under the United Family of stores, Amigos, Market Street and United Supermarkets, is working to become the favorite food and drug retailer in every market it serves. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. About Cerberus Capital Management, L.P. Try a low commitment monthly plan today. GuideStar worked with BoardSource, the national leader He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. You must click the activation link in order to complete your subscription. BrandSafway has a strong financial position with significant liquidity, allowing it to pursue the significant organic and inorganic growth opportunities available in its markets, said Garcia. Read More . Safeway's existing indebtedness is contemplated to be repaid at closing, other than capital leases and the company's 5.00% Senior Notes due 2019, 3.95% Notes due 2020, 4.75% Senior Notes due 2021, 7.45% Debentures due 2027 and 7.25% Debentures due 2031. Mr. Schumacher has also served on the board of Warrior Met Coal, Inc., a leading producer and exporter of metallurgical coal for the global steel industry, since April 2017, Evertec Inc., a leading electronic transactions and technology company in Latin America, since 2015, Blue Bird Corporation since 2008, and as director of BlueLinx Holdings Inc., a distributor of building products, from 2004 to 2021. Get the latest local business news delivered FREE to your inbox weekly. This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. We focus on giving locally in the areas of health and human services, hunger relief, education and helping people living with disabilities. The merger agreement includes a so-called "go-shop" period, during which Safeway, with the assistance of Goldman Sachs, its financial advisor, will actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals. DELTA NEWS ON THE GO. He has been Chief Financial Officer since 2015 and was elected Vice Chair in 2019. Ms. West began her career at Kraft Foods and served in various capacities over the course of 21 years and was named its Chief Marketing Officer in 2007. Mr. Prabhu is the Vice Chair, Chief Financial Officer of Visa Inc. By closing this message or continuing to use our site, you agree to the use of cookies. Managing Director - $601,766 See Other Titles. ", "This Merger is one of several actions we have taken in recent months as a result of our strategic business review. It also brings together two great organizations with talented management teams. Prior to joining the Company, Mr. Donald served as Chief Executive Officer and Director of Extended Stay America, Inc., a large North American owner and operator of hotels, and its subsidiary, ESH Hospitality, Inc. from February 2012 to July 2015. If Safeway is unable to sell Casa Ley before the four-year expiration of the CVR, shareholders would receive a cash distribution equal to the after-tax fair market value of Safeway's interest in Casa Ley at such time. Goldman, Sachs & Co. served as financial advisor to Safeway in connection with the Company's strategic review and the transactions. To access the website replay, go to the "Investors" link and click on "Presentations and Webcasts. Edwards, 57, will also join the company's Board of Directors. Herringer is the chairman and former chief executive officer of Transamerica Corp., a financial services company. Please click here to continue without javascript.. Tyson Foods and Hillshire Brands announce definitive merger agreement, Kroger and Albertsons solidify merger agreement. Ms. West provides our Board with expertise in marketing, brand building and strategic and operational planning for consumer-focused companies. TalentSky Member of the Board of Directors Dec 2015 Target Member of the Board of Directors Safeway Member of the Board of Directors Working together will enable us to create cost savings that translate into price reductions for our customers. Markets never sleep, and neither does Bloomberg News. Transamerica was acquired by Aegon in 1999. The merger agreement allows Safeway to pay its regular quarterly dividends over the next 12 months, prior to closing, and to increase the dividend within certain limits, assuming the deal is closed during that time period. George Charters Board Member Jun 1, 1998. All rights reserved. Delta Board of Directors Names Vasant Prabhu as Newest Member. He has also held various positions at First Boston Corporation, an investment bank acquired by Credit Suisse. Albertsons' Chief Executive Officer Bob Miller stated, "This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country. Safeway, Albertson's announce merger agreement, Tucson's west-side resort, Starr Pass, sold for $110 million, Cocktails on a train car and boutique bowling coming to Tucson, Pac-12 mailbag: Is an Arizona departure worst-case scenario for Pac-12? He has deep experience in BrandSafways end markets and a track record of driving commercial and operational excellence in both public and private companies. to get more GuideStar Nonprofit Profile data today! The diversified network of retail assets, associated distribution centers and manufacturing assets will allow for a broader assortment of products, a more efficient distribution and supply chain, enhanced fresh and perishable offerings, and expanded private label alternatives for customers. The right to receive any future payments with respect to the sales of PDC and/or Casa Ley, including with respect to the CVRs after the Closing of the Merger, will be contingent on a number of factors, including Safeway's ability to sell all or a portion of PDC and/or Casa Ley, and the amount of after-tax net proceeds realized. We look forward to working with Bob Miller and the rest of the Albertsons team as we proceed together on a path towards becoming an even stronger organization.". about GuideStar Pro. Our current Board of Directors consists of seven members. We are confident that Karl and Christian, along with our deeply committed management team and the best employees in the industry, are well positioned to drive BrandSafways continued leadership in the sector..