Former Ahold president and CEO Anders Moberg is to join Dubai-based retail group Majid Al Futtaim as chief executive.
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Majid Al Futtaim, which runs shopping centres and hypermarkets across the Middle East and North Africa, said Moberg will officially join the company on 1 July.
Moberg, 57, replaces Francois de Montaudouin, who has led the company for the past three years.
President Majid Al Futtaim praised de Montaudouin’s record at the company. “He has overseen a rapid development of our group both in terms of revenue and profits. Six thousand new jobs have been created, and the group has extended its activities to several new countries in the Middle East-North Africa region,” he said.
Moberg joined Ahold in 2003, when it was in the midst of a major accounting scandal. The prime force behind the company’s recovery programme, Moberg has been credited with putting the company back on an even keel, overseeing the sale of more than EUR3bn (US$4.1bn) of assets, cutting debt and costs and renovating stores.
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By GlobalData
