Ahold, Delhaize, drop merger bonus for chief executives

DutchNews, March 9, 2016    

Photo: Ahold 

Supermarket groups Ahold and Delhaize have dropped plans to give their chief executives a substantial bonus if shareholders vote in favour of a merger between the two companies at the March 14 AGM. 

The Dutch market leader said in a statement it ‘did not feel that this element of the remuneration proposal had the same broad base of support that investors and other stakeholders have expressed for the merger overall’. 

The merger will be voted on at next week’s meeting and remuneration for the board was a separate item on the agenda. The bonus section on the merger bonus has now been scrapped. 

Ahold boss Dick Boer would have had a full year’s salary in shares if the merger goes through. 

Ahold and Belgium’s Delhaize said last June they are to join forces in what they say is a ‘merger of equals’. However, 61% of the shares in the new company will be in Ahold’s hands, the rest with the Belgian group. 

The combined group, which will be known as Ahold Delhaize, will operate 6,500 stores and have a workforce of 375,000.

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