Ahold Expected to Reveal Plans for U.S. Foodservice Next Month

Ahold Chief Executive Anders Moberg and U.S. Foodservice Chief Executive Larry Benjamin will host a presentation Nov. 29, when Ahold is due to present its third-quarter financial results.

The second largest foodservice distribution unit was at the center of a nearly $1 billion accounting scandal that rocked Ahold in 2003. An alleged scheme to inflate rebates became public and only an emergency credit of $3.7 billion averted an Ahold bankruptcy. Both Columbia, MD-based U.S. Foodservice, which generates about one-third of Ahold's sales, and its parent incurred top-management shakeups.

Ahold said it anticipates U.S. Foodservice's operating income before impairment or goodwill amortization to exceed 1.7% by next year, a year that Ahold recently called increasingly challenging.


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