Delhaize completes Delta Maxi acquisition
Brussels, Belgium — Belgian supermarket retailer Delhaize Group said Wednesday that it has completed the previously announced acquisition of Serbian retailer Delta Maxi.
Combined with its existing operations in Greece and Romania, Delhaize is now, with this transaction, considered a leading retail force in Southeastern Europe.
"This transaction fits perfectly in our New Game Plan, our strategic plan focused on accelerating profitable revenue growth,” said Pierre-Olivier Beckers, president and CEO of Delhaize Group. “The addition of Delta Maxi combined with our existing businesses in Romania and Greece makes Delhaize Group into a leading player in the region. We are looking forward to growing our business in this promising part of Europe."
Delhaize acquired Delta Maxi for approximately $1.35 billion. In Serbia, Delta Maxi operates 350 stores and is the largest food retailer, and its store count in a five-country region is expected to total about 500 by year-end 2011.
Wal-Mart names Asia financial chief
Bentonville, Ark. — A Wednesday report by Bloomberg said that Wal-Mart Stores has named Morten Knudsen as CFO for Asia, as the retailer recasts its leadership roles in the region amidst top-heavy turnover.
Knudsen, who was previously VP for corporate finance in Asia for Danone, takes the financial chief spot for Wal-Mart Asia effective Sept. 1.
Since May, Wal-Mart has lost Japanese chief Toru Noda and three of its top executives in China, including the CFO and COO Roland Lawrence and Rob Cissell, respectively.
Tommy Hilfiger names former Gap Asia Pacific president as its new Asia chief
Amsterdam — The Tommy Hilfiger Group said Wednesday it has named John Ermatinger as CEO of the company’s Asia business, effective Aug. 1.
Ermatinger was previously president of Gap Asia Pacific for two years and president of Gap Japan for three years. Under his leadership, Gap successfully launched the brand in China.
In the newly created position for Tommy Hilfiger, Ermatinger will oversee all business activities in Asia, including the subsidiary Tommy Hilfiger Japan, the joint venture Tommy Hilfiger China, and the various licensed businesses throughout the territory. He will be based in the Hilfiger Hong Kong offices and will report to Fred Gehring, CEO.