Ahold names Boer its new CEO
AMSTERDAM Supermarket giant Ahold said Thursday it has named Dick Boer CEO, effective March 2011. The company also has tapped Carl Schlicker to replace Larry Benjamin as COO of its Ahold USA division, which generates roughly 60% of its total revenues.
Boer, currently COO of Ahold Europe, will replace current chief executive John Rishton, who will retire in March to become CEO of Rolls-Royce. He is a 12-year Ahold veteran credited with leading the success of the company’s Albert Heijn chain, and was part of a new management team brought into Ahold to restore its credibility and momentum following a major accounting scandal in 2003.
According to a report from Reuters, Boer said he will maintain a relatively aggressive acquisition strategy for Ahold and its U.S. division.
Schlicker, who currently is CEO of Ahold USA Retail, will assume his new post in early 2011 upon the retirement of Benjamin. He will report directly to Boer, the Dutch-based retailer announced.
“This structure will ensure that the new COOs spend their time managing and strengthening the businesses, while the board focuses on strategy and growth,” Ahold noted Thursday.
NRF responds to Chinese currency legislation
WASHINGTON Another group representing retailers has joined those opposed to legislation designed to pressure China to revalue its currency.
Following last week’s statement of opposition by the Retail Industry Leaders Association, the National Retail Federation is urging the House to reject H.R. 2378, the Currency Reform for Fair Trade Act, a bill that would require the Department of Commerce to determine whether a country’s currency is undervalued and constitutes an illegal export subsidy when considering cases of countervailing duties. The organization said the bill may violate certain World Trade Organization policies that determine what kinds of government financial contributions can be considered prohibited export subsidies and that it could set off retaliatory measures against U.S. exports by the Chinese.
Many members of Congress lately have stepped up criticism of China’s policy of pegging its currency, the renminbi yuan, to the U.S. dollar, saying that it constitutes currency manipulation that undercuts U.S. manufacturers.
“While we agree that the Chinese currency needs to move toward a market-determined exchange rate, H.R. 2378 would be ineffective in addressing the currency issue and would create significant costs for U.S. companies and workers in retail and other industries,” NRF SVP government relations Steve Pfister said. “This bill cannot provide effective leverage over China to resolve the currency issue or have any positive impact on either the trade deficit or U.S. jobs.”
Clorox gets new look
OAKLAND, Calif. Clorox unveiled its new corporate logo this week, marking the company’s most dramatic logo overhaul since 1957.
The nearly 100-year-old company said that the new logo reflects its focus on eco-friendly products and the strengthening of its brand portfolio.
"Our new logo better communicates what The Clorox Co. stands for today," said Clorox chairman and CEO Don Knauss. "We’ve kept visual elements that reflect our heritage, but we emphasized our forward-thinking mindset and objective to achieve strong growth, drive innovation and focus on sustainability."