The Supervisory Board of Royal Ahold (NYSE: AHO), the international food provider, today announced the appointment of Mr. M.P.M. de Raad to the Corporate Executive Board, effective January 1, 2001.
Until recently, Theo de Raad was a Board member of German food retailer Metro AG, for whom he had worked since the beginning of 1998. He was previously Managing Director of SHV Makro and a Board member of SHV Holdings. Earlier in his career he held various international executive positions including top posts at Makro Cash & Carry, Makro Thailand and Makro Indonesia.
The Ahold Corporate Executive Board will comprise the following members once De Raad joins the company: Cees van der Hoeven, President & CEO; Michael Meurs; Bob Tobin; Jan Andreae; Allan Noddle and Theo de Raad. After his introduction period, De Raad will lead various special projects and gradually assume responsibility for Ahold’s Latin American and Asian activities from Noddle, who will retire at the beginning of 2002. The Ahold Corporate Works Council is fully behind the appointment.
Theo de Raad, 55, brings to Ahold considerable experience in international retailing. A Dutchman, De Raad is married, has two daughters and lives in The Netherlands.
Background
Royal Ahold operates approximately 8,200 supermarkets, hypermarkets and other store formats in the United States, Europe, Latin America and Asia with annualized sales approaching Euro 50 billion. The company is also developing significant experience in the foodservice industry and as an e-commerce player. Ahold employs 400,000 associates and serves the food needs of over 30 million loyal customers in 25 countries every week. Ahold’s website can be found at www.ahold.com.
In addition to its listing on the New York Stock Exchange (NYSE: AHO), Ahold’s shares are trading on the Amsterdam Exchanges and on the Swiss Exchange. Additional information is available on Ahold’s website: http://www.ahold.com.
Royal Ahold press releases may contain `forward-looking’ statements. Actual results may differ from such statements as they may have been influenced by factors beyond the company’s ability to control.
