Ahold Press Release
CIAM is pleased to note the new commitments made by Ahold Delhaize with regards to its corporate governance approach. This follows numerous requests from CIAM and other stakeholders for Ahold to reconsider its approach to shareholder engagement and shareholder rights. The additional transparency and engagement with shareholders provided with regards to the extension of the call option agreement are aligned with the requests made to the board of Ahold Delhaize by CIAM.
While CIAM continues to believe that the Option Agreement cannot be extended without shareholder approval, a vote will take place within a year of the option being exercised, which respects shareholders rights. This is more aligned with the Dutch government’s proposal to potentially increase the 180-day cooling off period to 250 days in the case of a hostile takeover.
CIAM advises the board of Ahold Delhaize to continue to consider and act upon shareholder feedback on these important issues and to continue to align itself with best practice corporate governance to ensure the best outcome for all shareholders and other stakeholders going forward.
Catherine Berjal, CEO of CIAM, commented:
“These new commitments to address shareholder concerns by Ahold Delhaize mark a significant victory for corporate governance and investor rights. While there is still more to be done, we hope that this is the start of a new approach to transparent engagement with all stakeholders and to increasing focus on developing best practice corporate governance.”