Ahold Names CEO

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Ahold Names CEO

AMSTERDAM -- Royal Ahold NV ended its two-month search for a new chairman and chief executive, naming a former Ikea International CEO to the job.

Ahold said Anders Moberg, a chief executive of the big Netherlands-based furniture retailer IKEA from 1986 to 1999, would take over the helm at Ahold on Monday. Moberg is also the former head of U.S. home improvement retailer Home Depot Inc.'s international division.

Moberg replaces supervising chairman Heny de Ruiter, who is also chairman of the company's supervisory board. De Ruiter temporarily took the helm after Cees van der Hoeven, Ahold's long-time CEO, stepped down in February after revealing that accounting irregularities at a U.S. unit led to earnings being inflated by around 500 million euros.

In a statement, Moberg said that he's "convinced that we can get Ahold on the right track again."

Ahold operates 212 convenience stores under the Wilson Farms, Sugarcreek and Tops Xpress banners, and eight B-Kwik Food Markets in New York, Pennsylvania and Ohio. The company also operates U.S. Foodservice and more than 2,000 supermarkets under brands such as Stop & Shop and Giant Foods in the U.S market, as well as Peapod the Internet-based grocery delivery network.