Ahold enters into settlements with Van Der Hoeven and Meurs
Amsterdam, The Netherlands - Ahold today announced that it has
entered into settlements with its former CEO Cees Van der Hoeven and
its former CFO Michiel Meurs.
The settlement with the former CEO Van der Hoeven comprises two
elements: (i) Van der Hoeven will unconditionally waive all claims
which he has made in an arbitration proceeding against Ahold in an
amount of more than EUR 4.5 million and (ii) Van der Hoeven will pay
to Ahold an amount of EUR 5 million.
The settlement with the former CFO Meurs also comprises two elements:
(i) Meurs will unconditionally waive all claims that he has made
against Ahold in an arbitration proceeding in an amount of more than
EUR 2 million and (ii) Meurs will pay to Ahold an amount of EUR
The arbitration proceedings referred to above will be terminated.
The settlement has been agreed on the basis that neither Van der
Hoeven nor Meurs has admitted liability.
Ahold Press Office: +31 (0)20 509 5343
Forward-looking statements notice
Certain statements in this press release are forward-looking
statements within the meaning of the U.S. federal securities laws.
These statements include, but are not limited to, statements as to
Ahold's expectations as to the outcome of the settlements with its
former CEO and CFO. These forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual
results to differ materially from the future results expressed or
implied by the forward-looking statements. Many of these risks and
uncertainties relate to factors that are beyond Ahold's ability to
control or estimate precisely. Many of these risk factors are
detailed in Ahold's publicly filed reports. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Ahold does not
undertake any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after
the date of this press release, except as may be required by
applicable securities laws. Outside the Netherlands, Koninklijke
Ahold N.V., being its registered name, presents itself under the name
of "Royal Ahold" or simply "Ahold."