Its non-executive chairman Henny de Ruiter is set to quit at the next shareholders meeting, scheduled for October while its chief executive, Anders Moberg, has agreed to give up his guaranteed severance pay and link his hitherto fixed bonus pay to his performance, according to reports.
The move follows angry calls from investors for the board to take responsibility for the huge accounting irregularities that emerged under its tenure.
Ahold said further changes to the supervisory board would be made at the annual general meeting likely in May 2004.
‘The supervisory board now believes that a predominantly new team should assist Ahold in shaping its future,’ it said.
In February 2002, Ahold admitted that it overstated its profits by at least $500m (£317m), with the error primarily related to its American subsidiary US Foodservice.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016