Ahold's CEO Mosberg Resigns

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Ahold's CEO Mosberg Resigns

resigned effective July 1, 2007, to pursue other career interests. The grocery conglomerates supervisory board named John Rishton, currently Ahold's c.f.o., as acting president and c.e.o., while it mulls a permanent succession in the latter part of the year.

Ahold, based here, said its supervisory board agreed with Moberg "that now is the right time for a change of leadership at Ahold, as the company moves into the next phase of its development."

"Anders has made a great contribution to restoring the health of Ahold," said Rene Dahan, chairman of Ahold's supervisory board. "With this achieved, and the strategy for Ahold's future profitable growth in place, now is a good time for new leadership to be appointed to take the company through its next set of challenges and opportunities."

Moberg joined Ahold in 2003, and has been the principal architect of the company's "road to recovery" strategy, which was set to establish a sound corporate governance model, restore financial health, and put Ahold on track for sustainable profitable growth.

A press report from Reuters said that Rishton, an ex-c.f.o. of British Airways, is seen as more able to deliver on the retail group's financial targets. "We expect Rishton to be the right person to drive a faster operational recovery of U.S. retail and to improve capital efficiency," said brokerage firm Rabo Securities after the news broke here.

The company's shares hit a 42-month on news of Moberg's pending departure.