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Ahold CEO to Step Down in July

Anders Moberg, the chief executive officer of Dutch-based grocery store operator Royal Ahold, will step down July 1, the company said Friday.

Moberg, a former chief executive at Ikea, assumed the helm at Ahold in 2003 when the company was in danger of bankruptcy after one of Europe's largest accounting scandals. He later guided it back to stability by selling assets and reducing debt.

The company did not cite a reason for his departure, saying he was leaving "to pursue other interests." Chief Financial Officer John Rishton will replace him.

"Anders has made a great contribution to restoring the health of Ahold," said Rene Dahan, Chairman of Aholds Supervisory Board, in a statement. "With this achieved, and the strategy for Ahold's future profitable growth in place, now is a good time for new leadership."

Ahold operates the Stop & Shop and Giant chains in the United States and several large European chains, including its highly profitable flagship supermarket, Albert Heijn, which is dominant in the Netherlands.