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BRUSSELS, Belgium, Nov. 16, 2015 (GLOBE NEWSWIRE) -- Ahold and Delhaize Group today announced the proposed Executive Committee of Ahold Delhaize, effective upon completion of the proposed merger of the two companies.
The future Executive Committee will be comprised of the Management Board members as announced on June 24, 2015, and will be supplemented by the following four members (in alphabetical order), who will report directly to the Ahold Delhaize CEO:
Ahold and Delhaize Group have created two new important roles in the future Executive Committee to help shape and drive the company's ambitions as a responsible and innovative retailer: Chief Sustainability, Transformation & Communications Officer and Chief E-Commerce & Innovation Officer. At the level of the Supervisory Board, these areas will be overseen by a Sustainability and Innovation Committee.
As announced, the proposed Ahold Delhaize Management Board consists of CEO Dick Boer, Deputy CEO and Chief Integration Officer Frans Muller, CFO Jeff Carr, COO Europe Pierre Bouchut, COO USA Kevin Holt, and COO USA James McCann.
The Management Board will be responsible for the overall management and decision-making of the new company and will have fiduciary responsibility towards the Supervisory Board and shareholders. The future Executive Committee will be charged with the day-to-day management of the company. With a strong and balanced leadership team with representation from both companies, it exhibits the right combination of functional capabilities and retail experience to steer a company that will greatly expand its reach to deliver even more for the customers and communities it serves. The team will be well-positioned to drive and support integration, while managing the businesses for continued customer service and commercial success.
On June 24, 2015, Ahold and Delhaize announced their intention to merge, creating an international retailer with a portfolio of strong, trusted local brands with more than 375 000 associates serving more than 50 million customers every week in the United States and Europe.
Ahold and Delhaize remain on track to complete their proposed merger by mid-2016.
Additionally, Kostas Macheras, Executive Vice President of Delhaize Group and Chief Executive Officer for Southeastern Europe and a current member of the Delhaize Group Executive Committee, will retire from the company upon termination of his contract in March 2016. Mr. Macheras has been with Delhaize Group since 1997 and shared his intentions to retire well in advance of the merger discussions.
The appointment of the future Management Board members and other important elements of the merger are subject to shareholder approval and regulatory clearance as well as other customary conditions. More information can be found at www.adcombined.com.
» Delhaize Group
Delhaize Group is a Belgian international food retailer present in seven countries on three continents. At the end of the third quarter of 2015, Delhaize Group's sales network consisted of 3 465 stores. In 2014, Delhaize Group posted €21.4 billion ($28.4 billion) in revenues and €89 million ($118 million) in net profit (Group share). At the end of 2014, Delhaize Group employed approximately 150 000 people. Delhaize Group's stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).
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Press release in Pdf http://hugin.info/133961/R/1966899/718361.pdf