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Byline: The Register-Guard

PERS to cast shares' votes against Safeway CEO

PORTLAND - The Oregon Public Employees Retirement fund will use its shares in Safeway Inc. to vote for the ouster of company CEO Steven Burd next month, officials said.

The vote at Safeway's annual meeting May 20 will be one of the first visible effects of the Oregon Investment Council's decision last week to use the state's considerable clout as an investor to demand better governance from private companies.

The council, overseer of the $43 billion PERS retirement fund, controls 566,000 shares in Safeway.
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Title Annotation:Business; REGION
Publication:The Register-Guard (Eugene, OR)
Geographic Code:1USA
Date:Apr 8, 2004
Words:95
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