Leading Belgian international food retailer,
Etablissements Delhaize Fr
), better known as Delhaize Group, recently announced the
appointment of Frans Muller as its new Chief Executive Officer
(CEO). Delhaize Group also announced the resignation of Roland
Smith from his role as the CEO of Delhaize America segment.
Muller, aged 52, will replace the current CEO, Pierre-Olivier
Beckers, upon the latter's retirement. While Muller will join the
company on Oct 14 to ensure a smooth transition, he will take up
the role of the CEO later on Nov 8. Pierre-Olivier will still
continue to serve the board in a non-executive capacity.
Muller, formerly a member of the Management Board of Metro AG
(better known as Metro Group), a German international retailing
company, commands more than 15 years of senior leadership
experience in the retail sector. He has also served as the CEO of
Metro Cash & Carry, the largest sales division of Metro
Group, and therefore boasts a deep understanding of the global
food retailing business.
Delhaize Group operates through food supermarkets and operates
companies in 10 countries on three continents - America, Europe
and Asia. These companies have been grouped into three segments
for the purposes of reporting: the United States, referred to as
Delhaize America, Delhaize Belgium and Southeastern Europe &
Delhaize Group operates a network of 3,455 stores. Its
American Depositary Receipts (ADRs), each representing one
ordinary share, are listed on the New York Stock Exchange under
the symbol "DEG."
DEG carries a Zacks Rank #2 (Buy). Other companies in the
retail/supermarket industry that are doing well are
Koninklijke Ahold N.V.
J. Sainsbury plc
The Kroger Co.
). While Koninklijke carries a Zacks Rank #1 (Strong Buy), the
other two companies carry a Zacks Rank #2 (Buy).
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