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AMSTERDAM -- Ahold here said yesterday that it will reveal the results of its strategic retail review on Nov. 6, at a press conference.
The goal of the review, which Ahold implemented earlier this year, is to come up with recommendations to speed up and fund identical-sales volume growth across Ahold's global retail divisions. The review will also feature a comprehensive analysis of the retail conglomerate's portfolio of businesses and initiatives to lower costs.
The brainchild of Ahold president and c.e.o. Anders Moberg, the review is being carried out by a team headed by Dick Boer, president and c.e.o. of the Albert Heijn Arena and acting member of the corporate executive board. The team's other members are Ahold c.f.o. John Rishton, and U.S. Foodservice president and c.e.o. Lawrence Benjamin. Senior management from each of Ahold's operating companies around the world consulted closely with the team to develop its recommendations, the company said.
Centaurus Capital and Paulson, hedge funds that together own about 6.4 percent of Ahold, have been urging the company to sell its financially troubled businesses -- including the U.S. Foodservice unit -- and focus on its money-making European divisions.
According to a report from Reuters, sources close to the review have said it might recommend a merger with smaller Belgian counterpart Delhaize, but Ahold hasn't confirmed those reports.