NETHERLANDS: Ahold supervisory board may be forced to resign - report
The supervisory board of Dutch retail giant Ahold may be forced to resign in order to restore investor confidence in the scandal-hit company, according to a newspaper report.
"It is best for the new executive team that (the supervisory board) should step down," a person close to Ahold told the Financial Times. "That is the solution, and it is what may be coming."
New chief executive Anders Moberg is among those that believe the supervisory board should resign, according to the source.
"(Moberg) knows he cannot create a new Ahold if he is surrounded by people that are tainted by the past," the person said.
Ahold is struggling to recover from a US$1bn accounting scandal that emerged following the revelation in February of accounting irregularities at the company's US Foodservice unit.
Dutch retailer Ahold has announced the completion of the sale of its chain of 198 Wilson Farms and Sugarcreek convenience stores, part of its US subsidiary Tops Markets....
Dutch retailer Ahold has announced that Kerry Underhill has been appointed senior vice president corporate communications, effective 1 July 2005....
Dutch retailer Ahold has reported sales and operating income little changed in the first quarter of 2005, but net income was sharply down because of a one time gain in the first quarter last year....
Dutch retailer Ahold has announced today (Tuesday) that its chief financial officer Hannu Ryöppönen is to leave the company....
Danish based dairy company Arla Foods is opening a new representative office in Hungary....
Dutch retailer Ahold today (Wednesday) announced that it had signed a new €2bn (US$2.5bn) credit facility with a syndicate of fifteen banks. ...
Dutch retail giant Ahold has said its net sales declined 1.0% to €13.0bn (US$16.5bn) for the first quarter of 2005....
Supermarket company Giant Food, a subsidiary of Dutch retailer Royal Ahold's US arm Ahold USA, has announced restructuring plans for the remainder of 2005 and 2006....
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