Royal Ahold plans to sell U.S. Foodservice division
Royal Ahold plans to sell U.S. Foodservice division
Holland-based Royal Ahold NV has announced plans to sel its Columbia, MD- based U.S. Foodservice division, which it has successfully turned around from a revenue-losing entity in 2003 to a salient company, indicating that the move is part of a restructuring effort aimed at boosting shareholder value.
The announcement came in conjunction with Ahold's latest Retail Review report.
Also garnering attention for Ahold is the Nov. 8 conviction of Mark Kaiser, the former marketing chief of Royal Ahold NV's U.S. unit, in New York federal court for conspiracy and securities fraud.
Mr. Kaiser misrepresented as income promotional rebate dollars not yet earned at U.S. Foodservice, thus overstating the firm's earnings from 2000 to 2003. He is the last of 15 individuals charged with participating in the $800 million scandal.
The announcement came in conjunction with Ahold's latest Retail Review report.
Also garnering attention for Ahold is the Nov. 8 conviction of Mark Kaiser, the former marketing chief of Royal Ahold NV's U.S. unit, in New York federal court for conspiracy and securities fraud.
Mr. Kaiser misrepresented as income promotional rebate dollars not yet earned at U.S. Foodservice, thus overstating the firm's earnings from 2000 to 2003. He is the last of 15 individuals charged with participating in the $800 million scandal.