Marc Smith, CEO of Ahold’s Stop & Shop/Giant-Landover Arena, is to retire.

He will remain in position for a period of time to allow for an effective transition.

A statement from the company said: “The precise timing of his departure will be determined as the transition progresses and by the needs of the company. The timeframe is expected to be several months. A search, both internally and externally, is underway for his successor.”

During the transition period, Smith will continue as CEO, managing the day-to-day operations of Stop & Shop and Giant. In addition, Anders Moberg, CEO and president of Ahold, will take a direct role in managing the transition process.

Smith has been the CEO of Stop & Shop since 2000 and assumed responsibility for Giant in 2004. He joined the company in 1988.

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Smith said: “The strength of Stop & Shop and Giant resides in its people. It’s been a privilege and a pleasure to lead and support them. I am proud of what we have been able to accomplish together in the nearly two decades I have been part of the company.”

Moberg said: “I want to thank Marc for his immense contribution to the company. His knowledge of the business, dedication, and leadership have been instrumental in the development of Stop & Shop as a market leader, and as one of the cornerstones of Ahold. By taking on the additional responsibility of integrating Giant, he has built a sound foundation for moving Giant forward. Marc has given his all for the company and its associates. I respect his decision, and I wish him and his family the best of success for the future.”