Delhaize Group and Royal Ahold N.V. announced that they have entered into an agreement to merge. The combined company will be named Ahold Delhaize. The combined company will be governed by a two-tier board comprising a supervisory board and a management board.

The day-to-day management will be delegated to the executive committee. The supervisory board will consist of 14 members, comprising seven members from each of Ahold and Delhaize. Mr. Mats Jansson will be the chairman of the supervisory board.

Mr. Jan Hommen and Mr. Jacques de Vaucleroy will serve as vice chairmen. Mr. Mats Jansson and Mr. Jan Hommen will form the Presidium of the supervisory board. Mr. Dick Boer, currently CEO of Ahold, will be the CEO of the combined company.

Mr. Frans Muller, currently CEO of Delhaize, will be deputy CEO and chief integration officer. Mr. Jeff Carr, currently CFO of Ahold, will be CFO. Mr. Pierre Bouchut, currently CFO of Delhaize, will become chief operating officer for Europe.

The current chief operating officers of Ahold and Delhaize in the United States, Mr. James McCann and Mr. Kevin Holt, will stay on as COOs of their respective businesses. The management board of the combined company will consist of the CEO, the Deputy CEO, the CFO and the three COOs for the US and Europe. They will be supported by the functional leaders of HR, legal and commercial and together they will form the executive committee.