NETHERLANDS: Ahold to nominate Hannu Ryopponen as new CFO

Troubled Dutch retail giant Ahold has nominated Hannu Ryopponen to become the company’s chief financial officer from 1 September. Ryopponen, who is from Finland, is currently finance director of private equity firm Industri Kapital Group in London. Between 1985 and 1998 Ryopponen worked for Swedish furniture group Ikea, a company for which Ahold’s new chief executive Anders Moberg also worked.

Troubled Dutch retail giant Ahold has nominated Hannu Ryopponen to become the company’s chief financial officer from 1 September.

Ryopponen, who is from Finland, is currently finance director of private equity firm Industri Kapital Group in London. Between 1985 and 1998 Ryopponen worked for Swedish furniture group Ikea, a company for which Ahold’s new chief executive Anders Moberg also worked.

The appointment is conditional on shareholders’ approval. Interim CFO Dudley Eustace, who was appointed following the February resignation of Ahold CFO Michael Meurs, is to stay on until further notice, reported Reuters.

Ahold has been hit by an accounting scandal that led to the resignation of the company’s CEO and CFO.