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.
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“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.
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