Delhaize Says Former CEO Not To Stand For Renewal As Director - Quick Facts

(RTTNews) - Belgian food retailer Delhaize Group (DEG) announced Thursday that Pierre-Olivier Beckers-Vieujant and Didier Smits have informed that they will not stand for renewal when their current mandates expire at the shareholders' meeting to be held on May 28.

The company is in advanced stages of discussion with candidates for election at the Ordinary Shareholders' Meeting. The change is part of the regular process of reviewing the Board's composition, Delhaize said.

The company noted that Baron Beckers-Vieujant has served as a director of Delhaize since 1995 and was President and Chief Executive Officer of Delhaize from 1999 until 2013.

Didier Smits has served on the Board of Directors since 1996.

Mats Jansson, Chairman of the Board of Directors, said, "Pierre-Olivier has worked for Delhaize for more than 30 years. For the last 15 years, he has led both the company and served the Board of Directors. … A number of significant initiatives started under his leadership are beginning to bear fruit today and position us well for sustainable growth."