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Thursday, 25 March, 2004, 19:16 GMT

Ahold makes two US appointments

Ahold Dutch retail group Ahold has appointed two people to fill senior positions at its scandal-hit US subsidiary company Foodservice.

Ahold has been working to restore some stability at the US firm since a 1.2bn euro ($1.46bn;£804bn) shortfall was found on Foodservice's books for 2002.

The scandal, centred around the misreporting of promotional discounts, saw a number of resignations.

One of the new directors is an expert in restructuring troubled businesses.

Garry Brown, he joins as senior vice president of procurement.

The other new arrival is former lawyer Robert Aiken, who becomes executive vice president for strategy, with special responsibility for governance.

Ahold recently reported that its 2003 sales fell by 10.5% to 56bn euros, or $71.bn.




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Related to this story:
Ahold sales down but shares go up (09 Jan 04  |  Business )
Ahold faces court over accounts (07 Jan 04  |  Business )
Ahold wins shareholder approval (26 Nov 03  |  Business )
Ahold returns to profit (07 Nov 03  |  Business )
Ahold warns on scandal fall-out (17 Oct 03  |  Business )
Ahold scandal: The final bill (01 Jul 03  |  Business )

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