Henny de Ruiter will resign as chairman at the close of the general shareholders meeting, which should be held in October to approve 2002 financial statements. Further changes will be made at the 2004 annual general meeting of shareholders, targeted for May 2004.A nomination has been established to consider retirements and new members of the supervisory board.
In addition, Anders Moberg, newly approved president and ceo of Ahold, said he would adjust his remuneration package to relinquish guaranteed severance compensation and to tie bonus compensation fully to performance. "I understand that my current severance benefits and my guaranteed bonus are considered unacceptable in the Dutch environment, so I have taken the decision to modify both," he stated.
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