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ZAANDAM, The Netherlands - Ahold today announced that Dudley Eustace, the man brought in as interim chief financial officer in March, has completed his term as a member of the Corporate Executive Board at Ahold. His primary responsibilities had been to stabilize the financial fundamentals of the company and recruit a permanent c.f.o.
Hannu Ryopponen was appointed permanent c.f.o. in September.
"There is no doubt that Ahold is now in better shape than when Dudley came on board," said Ahold president and c.e.o. Anders Moberg. "He has made an enormous contribution to improving the liquidity position of the company. It is largely thanks to Dudley's stewardship of the financial restructuring process in the months following the announcement of Feb. 24 that we were able to draw a line under the past and move forward to where we are today."
Eustace, 67, is returning to his position as non-executive chairman of Smith & Nephew plc, a London-based global provider of advanced medical devices.