Ahold Delhaize beats profit goals as CEO change hits shares
Ahold Delhaize reported a quarterly profit of 896 million euros, beating estimates. Shares fell as the group named Thierry Garnier to succeed CEO Frans Muller.
KONINKLIJKE AHOLD DELHAIZE N reported first-quarter underlying operating income of 896 million euros, beating the 858 million euro consensus. Shares fell 3.4% by mid-morning as the group announced Kingfisher CEO Thierry Garnier will succeed retiring chief Frans Muller in April 2027. Investors are weighing the strong operational performance in the United States against the loss of a leader credited with the successful 2016 merger.
### Leadership Transition Overshadows Earnings Beat The 896 million euro profit represents a marginal rise in underlying operating income, though core earnings rose 8.1% when excluding the impact of a weak dollar. Thierry Garnier will take over from Muller, who led the operator of Albert Heijn and Delhaize for nine years. KBC Securities analyst Michiel Declercq said Muller was well liked for his track record in the Netherlands and Belgium.
