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).

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Operations

Hitting resistance elsewhere, ghost kitchens and virtual concepts find a happy home in family dining

Reality Check: Old-guard chains are finding the alternative operations to be persistently effective side hustles.

Financing

The Tijuana Flats bankruptcy highlights the dangers of menu miscues

The Bottom Line: The fast-casual chain’s problems following new menu debuts in 2021 and 2022 show that adding new items isn’t always the right idea.

Financing

Malls are quietly making a comeback

Once left for dead as shoppers moved online and then the pandemic hit, malls are regaining lost traffic. And that has been a boon for restaurant chains like Auntie Anne's, Cinnabon and Chick-fil-A.

Trending

More from our partners