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ID NEWS: Ahold's Tops ceo resigns

Frank Curci, president and ceo of Tops Markets, Williamsville, NY, a U.S. supermarket unit of Royal Ahold, Zaandam, The Netherlands, has resigned. His departure follows the discovery last month of accounting irregularities at Tops for the year 2002.

Curci had been transitioning to the ceo post at Giant Food, Landover, MD. In his role as Tops ceo, Curci held responsibility for oversight and control of the business and, as such, he and Ahold USA president William Grize determined it was not appropriate for him to assume his new role at Giant, according to a company release.

Curci is the latest casualty of Ahold accounting scandals in the U.S., most notably, that of U.S. Foodservice, Columbia, MD. This second largest of the nation's broadliners was found to have overstated $880 million in profits and Jim Miller, ceo, was forced to resign, several months after the problems surfaced (ID Management Report 5/15/03).

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