SOURCE: Ahold NV

October 05, 2007 01:30 ET

Ahold enters into settlements with Van Der Hoeven and Meurs

AMSTERDAM, NETHERLANDS--(Marketwire - October 5, 2007) -



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 600,000.

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."





Copyright © Hugin ASA 2007. All rights reserved.

Contact Information