Safeway’s CEO sees value of compensation fall nearly 15 percent in 2009

Safeway’s CEO compensation falls nearly 15 percent

PORTLAND, Ore. — An Associated Press calculation shows Safeway Inc. CEO Steven Burd’s compensation fell nearly 15 percent in 2009.

Safeway has struggled during the down economy as shoppers cut their spending even on food.

Documents filed Monday with regulators show the grocery chain gave Burd a pay package valued at nearly $9.4 million in 2009. That’s down from $11 million he received in 2008.

The Associated Press bases its executive pay calculation on an array of compensation during the year. These calculations may differ from the figures listed by companies in Securities and Exchange Commission filings.