International News - Shareholders to grill Safeway's Burd over strikes

US Safeway chairman, president and chief executive officer Steve Burd will face shareholders baying for his blood at next week's annual meeting.

Burd has been vilified for the grocer's stern stance on the recent Californian labour dispute, and investors blame him for wiping out US$20 billion (£11.25 billion) of shareholder value since 2001.

Charges of cronyism have been levelled against Safeway, and it responded last week with a major shake-up. Directors George Roberts, James Greene and Hector Lopez were ousted in favour of perceived independent candidates.

Paul Hazen was elevated to lead independent director.