Steven Burd

On October 6, 2021, Burd, testified in the Theranos trial and gave details about the failed multimillion-dollar remodel of the Safeway stores. He gave evidence that Safeway spent $300 million to build out clinics in hundreds of Safeway stores and the strategy of the partnership was, "while you’re shopping and before you leave you’re going to get the results of that blood test." Burd also testified that Holmes told them the Theranos blood testing technology was deployed by the U.S. military in the Middle East.

As of 2013, Burd sits on the Board of Directors of Kohl's. In September 2013, Burd also founded Burd Health LLC with the intent to help companies lower the costs of their own healthcare plans.

In April 2013, when asked by analysts about the wellness play he had alluded to in earlier calls, he said “It hasn’t happened yet.” Burd retired from Safeway the next month. No Theranos devices were ever successfully deployed in Safeway stores and in November 2015, Safeway and Theranos formally ended their relationship.

In 2012, Burd told investors and that the grocery chain was “contemplating a significant…wellness play.” During the implementation of the project, Safeway had Theranos conduct blood testing at their headquarters clinic that compared Theranos test results with those of traditional blood testing methods. However, these results showed inconsistencies between the two methods. According to two former executives, Burd was told about the inconsistent results. Burd told them that he had been reassured by Elizabeth Holmes and continued to support the project.

In January 2010, the Washington Post reported that Burd's assertion in June 2009 that Safeway's per capita health-care costs between 2005 and 2009 were flat was in fact true, but had nothing to do with incentives for employees. Those incentives weren't implemented until 2009, and the company forecast that per capita expenses for its employees would rise by 8.5 percent for the 2009 year.

Steven A. Burd (born 1949) is an American businessman. He served as chairman, president and CEO of Safeway Inc. from October 26, 1992 to May 14, 2013. He is a member of the Republican Party.

Burd was President of Safeway from October 26, 1992 until May 14, 2013, and CEO from April 30, 1993 until May 14, 2013. He joined the Board of Directors on September 7, 1993 and served as chairman of the board between May 12, 1998 and May 14, 2013. While CEO of Safeway in 2009, he earned a total compensation of $10,901,892, which included a base salary of $1,449,000, a cash bonus of $358,627, stock awards of $491,611 and options granted of $6,922,200. Steven Burd will receive another $7.5 million in stock as a result of the transaction that combines Safeway and Albertsons supermarket chain. [1]

Burd received a Bachelor of Science degree in Economics from Carroll University in 1971 and a master's degree in economics from the University of Wisconsin–Milwaukee in 1973.