AHOLD: Appointment of CFO

Ahold (8,14 EUR, -0,38%) announced the appointment of Jeff Carr as Executive Vice President and Chief Financial Officer, starting 12 November 2011. Jeff will be a member of Ahold's Corporate Executive Board, pending shareholder approval. He will succeed Kimberly Ross who is leaving Ahold in November to become CFO of Avon (21,34 USD, 0,66%).

Jeff will be responsible for Ahold's finance, real estate and IT functions. He will also manage the company's existing € 350m cost reduction program and explore further ways to reduce costs and simplify the business.

Jef’s professional experience includes positions in the consumer goods and services industry on both sides of the Atlantic ocean. Jeff has been CFO of listed companies since 2005, and has worked and lived in Europe and the United States.

Jeff Carr (49) is a British national. He is currently group finance director and a member of the board at UK-based FirstGroup, the leading transport operator in the United Kingdom and North America, including Greyhound in the United States and Canada. Before joining FirstGroup, he was group finance director and board member at easyJet , and held senior financial roles at Associated British Foods, Reckitt Benckiser, and Grand Metropolitan. He began his career at Unilever (21,96 EUR, -0,54%).
The Ahold Supervisory Board will nominate Jeff for appointment to Ahold's Corporate Executive Board at its Annual General Meeting of Shareholders on 17 April 2012. Until then,he will be an acting member of the Corporate Executive Board. The terms and conditions of Jeff's contract comply with Ahold's remuneration policy.