Ahold loses Tops CEO
Supermarket giant parts company with senior executive
June 25 2003
Ahold has announced the resignation of Frank Curci, until recently president and CEO of the Tops Markets grocery business.
Curci, who had been due to move to the top spot in Ahold’s Giant-Landover supermarket business, is the latest casualty of the accontung troubles that have hit the Netherlands–based retail group.
William Grize, president and CEO of Ahold USA, said he had accepted Curci resignation as a result of accounting irregularities at Top relating 2002.
The problems were discovered in an internal audit in May. A statement from Ahold said that Curci held responsibility for oversight and control of the business. “As such, Curci and Grize determined it was not appropriate for him to assume his new role.” Curci had been with Ahold for eight years.
Another executive, Max Henderson has assumed the role of executive vice president and general manager at Tops, while Ahold said Giant-Landover does not plan to fill the chief operating officer position at this time.
