Will Ahold Delhaize's management board be devoid of Belgians soon? In April, the Belgian-Dutch retailer will elect its new management board, and there is only Belgian candidate. Dominique Leroy, however, is not without controversy. The last member of the founding family is set to leave as well.
Exit founding family
Early April, the shareholders have to vote for the new management board of Ahold Delhaize: usually this is just a formality, but that might not be for the only Belgian candidate. Leroy, former CEO of Belgian telecom operator Proximus, has been a member of the retailer's management board since 2016, but she withdrew her candidacy as CEO of Dutch telecom operator KPN as she was accused of insider trading of Proximus shares just before leaving the company. Analysts now fear activist shareholders may raise a problem with this.
At the moment, there are two Belgians in Delhaize's management board: apart from Leroy, Jacques de Vaucleroy is a member of the board as well. He is the last remaining director from the family that founded Delhaize in the middle of the 19th century, but he has said he will retire in April and he will not renew his candidacy. If all goes according to plan, he will be succeeded by Dutchman Frank van Zanten, currently CEO of British distributor Bunzl.
Another candidate for the board is British Helen Weir, currently in the board of directors of Just Eat. She has previously worked for Marks & Spencer.