Delhaize Names Frans Muller CEO; America Unit CEO Resigns - Update

(RTTNews) - Belgian food retailer Delhaize Group (DEG) on Wednesday announced that it has appointed Frans Muller, 52, as its Chief Executive Officer, effective November 8. Muller will succeed Pierre-Olivier Beckers, who announced in early May his plans for retirement from the post.

Delhaize also announced that Roland Smith is resigning today from his role as CEO of Delhaize America. The company's U.S. operations will now be reported to the Delhaize Group CEO.

The company noted that Beckers will remain available to advise the new CEO until year-end and continue to serve on the Board of Directors in a non-executive capacity thereafter. Beckers joined Delhaize Group in 1983, has been a director of the company since 1995 and was appointed President and CEO in January 1999.

Prior to assuming the role of CEO, Muller will join the company on October 14 so as to ensure a seamless transition. Most recently, Muller served as Member of the Management Board of German department store operator Metro AG (MTTRY.PK, MTAGF.PK), and CEO of its unit Metro Cash & Carry from 2008 to 2013.

Muller said, "The company is on track with its strategic priorities for the year and is focused on the areas that deliver the highest growth and returns. I am looking forward to leading the company, working with the Executive Committee and 160,000 Delhaize associates to build on the company's current momentum."

Smith, the resigning CEO of Delhaize America, will be available as a senior advisor to the CEO until the end of the year, the company noted.

Beckers added, "Our U.S. business continues to deliver positive results and we have a solid foundation upon which to build. There is a strong leadership team in place and we look forward to further progress in the U.S. I want to thank Roland for his significant contributions to the success of Delhaize America, particularly the energy and focus he brought to the business."

In Belgium, Delhaize shares are currently trading at 47.73 euros, down 1.99 euros or 3.99 percent.