Advertisement
HomeCollectionsRoyal Ahold
IN THE NEWS

Royal Ahold

FEATURED ARTICLES
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | April 5, 2006
Royal Ahold has promoted an executive from within the company to serve as the new president and chief executive officer of its Stop & Shop/Giant-Landover supermarket chain, the Dutch food company said yesterday. Jose Alvarez, currently executive vice president of supply chain and logistics at Stop & Shop/Giant, will move into the new position over the next month. He will replace Marc Smith, who in February announced his retirement. Alvarez takes the helm at a challenging time for the Stop & Shop/Giant division, which has faced increased pressure as midtier grocers get squeezed by discounters and high-end specialty food markets.
ARTICLES BY DATE
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | December 19, 2007
Dutch food conglomerate Royal Ahold NV has settled the final major case involving its former Columbia-based U.S. Foodservice division. Under the settlement announced yesterday, James L. Miller, the former U.S. Foodservice chief executive, will pay the company $8 million for bonuses and salary he earned during an accounting scandal that surfaced four years ago. Miller did not admit liability under the settlement. Ahold also agreed to pay Miller more than $4.6 million in retirement and health benefits as part of the agreement, said his attorney, Benjamin Rosenberg of Rosenberg, Martin, Funk & Greenberg LLP. Miller, 59, founded and ran U.S. Foodservice for 14 years.
Advertisement
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | August 31, 2007
Dutch grocery company Royal Ahold NV said yesterday that it will delist its shares from the New York Stock Exchange and remove its registration from the U.S. Securities and Exchange Commission, significantly paring down its relationship with the American regulatory market. The company, which owns the area's largest grocery chain, Giant Food, said it decided to delist to reduce costs by eliminating some of the complexities of reporting to different regulatory agencies. The benefits of maintaining a U.S. registration and a NYSE listing have declined over time, the company said.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | August 31, 2007
Dutch grocery company Royal Ahold NV said yesterday that it will delist its shares from the New York Stock Exchange and remove its registration from the U.S. Securities and Exchange Commission, significantly paring down its relationship with the American regulatory market. The company, which owns the area's largest grocery chain, Giant Food, said it decided to delist to reduce costs by eliminating some of the complexities of reporting to different regulatory agencies. The benefits of maintaining a U.S. registration and a NYSE listing have declined over time, the company said.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | September 5, 2003
Dutch food retailer Royal Ahold NV, ending months of speculation, said yesterday that it has no immediate plans to sell U.S. Foodservice, the Columbia food distributor at the center of an accounting scandal that cost the parent company $1.1 billion. "To sell it off today would create a massive destruction of shareholder value," Chief Executive Officer Anders Moberg said at his company's annual shareholders meeting in The Hague, Netherlands. The accounting irregularities, in which Royal Ahold said U.S. Foodservice inflated rebates and discounts from suppliers, have left the Columbia subsidiary in a "suboptimal state," Moberg said.
BUSINESS
By BLOOMBERG NEWS | June 11, 1999
ZAANDAM, Netherlands -- Royal Ahold NV, the world's sixth-largest supermarket owner, said its first-quarter profit rose 32 percent, less than expected, as Brazil's currency crisis and a weaker dollar bled some of the inflow from Giant Food in the United States.Net income rose to 175.1 million euros ($183 million) in the first three months of this year from 133.1 million euros, missing estimates because Royal Ahold wrote off exchange-rate costs at its Brazilian unit, Bompreco. Earnings rose 12 percent to 0.27 euro a share.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | November 20, 2002
With its U.S. sales sputtering and problems in Latin America, Royal Ahold NV reported a drop in third-quarter profits yesterday and announced plans to divest some of its ancillary businesses. Ahold's two Maryland companies - U.S. Foodservice of Columbia and Giant Food Inc. of Landover - shouldn't be affected, one analyst said. "I don't see it in any significant way," said Jeff Metzger, publisher of Food World, a food industry trade journal based in Columbia. Ahold said yesterday that net income in the quarter that ended Oct. 6 plunged a larger-than-expected 15 percent, to $260 million.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | April 28, 2007
In a surprise announcement, Royal Ahold NV said yesterday that its chief executive officer - brought in four years ago to turn around the company after a nearly $1 billion accounting scandal at Columbia food distributor U.S. Foodservice - is stepping down a year before his contract was to expire. The Dutch food company, which also owns Giant Food, said that Anders Moberg would leave July 1 to "pursue other business interests." Moberg consulted with the board, which agreed it was time for a change in leadership, according to a statement released by the company yesterday.
BUSINESS
By BLOOMBERG NEWS | September 9, 2003
ZAANDAM, Netherlands - Royal Ahold NV's new chief executive officer is considering selling new shares to current investors to trim the Dutch retailer's debt load and may announce a decision next month on how he plans to raise funds. The retailer, which must show creditors its 2002 accounts by Sept. 30, "will try to move fairly quickly" on financing after that deadline, CEO Anders Moberg, who was appointed Thursday, said in an interview at the company's headquarters. "We have a very stressed situation."
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | May 3, 2003
Two months after Royal Ahold NV disclosed an accounting scandal that sent its shares plummeting and forced the ouster of its top executives, the Dutch food retailing giant tapped a former executive of furniture retailer Ikea to rebuild the troubled company. Anders C. Moberg, 53, a Swedish national whose retail experience also includes heading Home Depot's international division, will take over Monday as Royal Ahold's acting chief executive officer, the company said yesterday. Moberg's permanent appointment as president and chief executive officer and member of the corporate executive board will be proposed at an annual meeting May 13, Royal Ahold said.
BUSINESS
By Jay Hancock and Jay Hancock,Sun Columnist | May 6, 2007
To be successful in the food-distribution business, cook the products, not the books. Somebody should have told this to Mark P. Kaiser, Michael Resnick and the other people involved in a scheme that artificially boosted U.S. Foodservice's profit by $880 million, according to an investigation by its parent company. Last week's sale proves that the fraud at the Columbia-based company - besides being criminal and almost ruinous - was completely unnecessary. U.S. Foodservice was quite capable of making money the indictment-free way: by selling products to customers and accurately recording the results.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | May 3, 2007
Dutch food conglomerate Royal Ahold NV said yesterday that it has signed a $7.2 billion deal with two private equity firms that would end its seven-year stewardship of U.S. Foodservice, the Columbia food distributor that nearly bankrupted Ahold with a nearly $1 billion accounting scandal. Analysts said the sale could open the way for Ahold to sell its U.S. supermarket chains, including Giant Food of Landover.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | April 28, 2007
In a surprise announcement, Royal Ahold NV said yesterday that its chief executive officer - brought in four years ago to turn around the company after a nearly $1 billion accounting scandal at Columbia food distributor U.S. Foodservice - is stepping down a year before his contract was to expire. The Dutch food company, which also owns Giant Food, said that Anders Moberg would leave July 1 to "pursue other business interests." Moberg consulted with the board, which agreed it was time for a change in leadership, according to a statement released by the company yesterday.
NEWS
By Joanne Royce and Terisa E. Chaw | November 1, 2006
When former Enron Chief Executive Jeffrey K. Skilling was sentenced last week to more than 24 years in prison for his role in the company's 2001 collapse, it was a reminder of how the Enron scandal forced changes in government's oversight of corporate America. In the wake of that scandal, Congress strengthened securities laws in 2002 to protect investors and markets from future financial disasters. Unfortunately, powerful corporations are challenging these laws in bitter legal disputes across the country.
BUSINESS
By Bloomberg News | October 13, 2006
NEW YORK -- Mark P. Kaiser, former marketing chief of Royal Ahold NV's U.S. unit, was falsely accused of helping lead a fraud at the company by a colleague trying to win leniency from prosecutors, his lawyer told jurors yesterday at the start of Kaiser's trial. Kaiser is the last of more than 15 people to face criminal charges stemming from what the government says was an $800 million fraud at Columbia, Md.-based U.S. Foodservice. In his opening statement, defense lawyer Richard Morvillo said his client was falsely implicated by former purchasing chief Timothy Lee, who later pleaded guilty.
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | April 5, 2006
Royal Ahold has promoted an executive from within the company to serve as the new president and chief executive officer of its Stop & Shop/Giant-Landover supermarket chain, the Dutch food company said yesterday. Jose Alvarez, currently executive vice president of supply chain and logistics at Stop & Shop/Giant, will move into the new position over the next month. He will replace Marc Smith, who in February announced his retirement. Alvarez takes the helm at a challenging time for the Stop & Shop/Giant division, which has faced increased pressure as midtier grocers get squeezed by discounters and high-end specialty food markets.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | August 13, 1998
Royal Ahold NV, the international food retailer that is buying Giant Food Inc. for $2.7 billion in cash, said yesterday that it expects Federal Trade Commission approval before the end of the summer."
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | September 18, 1998
Royal Ahold NV said yesterday that it had cleared a major regulatory hurdle in its quest to complete its $2.7 billion acquisition of Maryland-based Giant Food Inc. and expects to wrap up the deal in several weeks.The Federal Trade Commission, fearing market dominance, had ordered the two companies to sell 10 locations where Giant stores overlapped with those of another Ahold property -- Giant Food Stores Inc. of Carlisle, Pa. After weeks of looking for takers, Royal Ahold said yesterday that it had found buyers and gotten preliminary approval from the FTC."
BUSINESS
By ANDREA K. WALKER and ANDREA K. WALKER,SUN REPORTER | January 7, 2006
A federal judge gave preliminary approval yesterday to a plan by Royal Ahold NV, the Dutch owner of Giant and Stop & Shop supermarket chains in the United States, to settle for $1.1 billion a class action lawsuit brought by shareholders. The company and attorneys representing shareholders announced in November that they had come to an agreement, but must get court approval before they can begin payouts. They cleared one hurdle yesterday when Judge Catherine C. Blake gave her first nod on the settlement after a 90-minute hearing in U.S. District Court in Baltimore.
BUSINESS
By BLOOMBERG NEWS | May 19, 2005
THE HAGUE, Netherlands - Royal Ahold NV, the Dutch supermarket company that inflated profits, said it plans to keep U.S. Foodservice, the Columbia, Md.-based food-distribution unit where most of the faulty accounting took place. The company, which owns Giant Food of Landover and the Stop & Shop chain, can create more value by keeping the business than by selling it, Chief Executive Officer Anders Moberg said yesterday at the company's annual meeting. Ahold had been considering the unit's future since revealing the earnings fabrication in February 2003.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.