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Supervisory Board report continued
Ahold
Annual Report 2010
Group at a glance
Performance
Fi nancials
Investors
Throughout the year, the Audit Committee closely monitored the financial closing process.
Updates on internal controls were provided during all Audit Committee meetings. The Audit
Committee was informed regularly on litigation and related exposure, reviewed and received
regular updates on Ahold's whistleblower program, and verified the outcome of the annual
incentive program.
The Audit Committee further discussed items including:
Quarterly interim reports
Annual trading statement
2009 Annual Report and financial statements
Review and approval of the internal audit plan
Review of and discussions on the findings in the internal audit letter and the management letter
of the external auditor
Ahold's finance structure
Treasury
Capital investment reappraisals
Tax
Pensions
Guarantees
Enterprise risk management
Insurance
Appointment of the external auditor
The Audit Committee and the chairman of the Audit Committee also held private individual
meetings with the Chief Executive Officer, Chief Financial Officer, Senior Vice President Internal
Audit, and external auditor.
In a separate private meeting, the Audit Committee reviewed its own functioning as well as that of
its individual members. This review concluded that the Audit Committee's composition, its work
processes, the scope and depth of its activities, its interfaces with the Corporate Executive Board
and the Supervisory Board, and the personal contribution of each individual committee member
are satisfactory and adequately serve the Company's needs.
The Supervisory Board has determined that Tom de Swaan and Stephanie Shern are "Audit
Committee Financial Experts" within the meaning of the Dutch Corporate Governance Code.
Selection and Appointment Committee
In 2010, the Selection and Appointment Committee held four meetings. Its main areas of focus
were the succession issues related to the departure of John Rishton as the CEO of the
Company, and of Lawrence Benjamin, as Executive Vice President and Chief Operating Officer
Ahold USA. It was also involved in organizational and management changes at Ahold Europe
and Ahold USA, and discussed overall succession and management development processes at
Ahold.
Remuneration Committee
In 2010, the Remuneration Committee held four meetings in person and one conference call.
The Chief Executive Officer was invited to most of these meetings. For a report on remuneration
and the activities of the Remuneration Committee, see Remuneration.
