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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (17596)	3/12/2003 7:59:29 PM
From: Mad2	Read Replies (1) \| Respond to of 18998

2 years, the attorney's will salivate on this one. m2 Copyright 2003 AFX News Limited AFX European Focus March 10, 2003 Monday SECTION: COMPANY NEWS LENGTH: 189 words HEADLINE: Ex-CFO of Ahold's Foodservice left co in 2001 as unhappy with accounts -report DATELINE: AMSTERDAM BODY: A senior finance officer at Royal Ahold NV's US Foodservice alerted the parent company about potential problems in the unit's accounts as early as 2001, a former Ahold executive was quoted as telling the Financial Times. The former executive, who asked not to be identified, said Ahold USA veteran Ernie Smith left the company three months after being appointed chief financial officer of US Foodservice because he was allegedly uncomfortable with the unit's accounting standards. The former insider says senior Ahold finance officials were alerted to questionable accounting at US Foodservice two years ago by Smith. Those concerns were not properly addressed, the person added. Smith declined to comment. Ahold this month disclosed a 500 mln usd hole in the accounts of US Foodservice. Ahold refused to comment on whether executives were alerted to problems at US Foodservice before this month, but said the "entire matter" was under investigation, the FT reported. newsdesk@afxnews.com jms