Under the leadership of the founder's grandsons, Albert Jr. and Gerrit Jan Heijn, the company continued to make a significant impact on food retail in the Netherlands in the next four decades, pioneering self-service shopping, and the development of private labels and of non-food as a grocery store category.
Under a new leadership team, which for the first time did not include any members of the Heijn family, the company accelerated its growth through acquisitions in the latter half of the 1990s in Latin America, Central Europe, and Asia.
The CEO, Cees van der Hoeven, and CFO, Michael Meurs, and a number of senior management resigned as a result, and earnings over 2001 and 2002 had to be restated.
The main accounting irregularities occurred at U.S. Foodservice (now US Foods), and, on a smaller scale, Tops Markets, in the United States, where income related to promotional allowances was overstated.
In May 2006, a Dutch appeals court found Ahold's former CEO and CFO guilty of false authentication of documents, and they received suspended prison sentences and unconditional fines.
[16] Under his and other new leadership appointed following the crisis, Ahold launched a "Road to Recovery" strategy in late 2003 to restore its financial health, regain credibility, and strengthen its business.
[17] As part of this strategy, Ahold announced it would divest all operations in markets where it could not achieve a sustainable number one or two position within three to five years, and that could not meet defined profitability and return criteria over time.
As part of its Road to Recovery strategy, Ahold strengthened accountability, controls and corporate governance and restored its financial health, regaining investment grade in 2007.
[3] In November 2011, under the leadership of Dick Boer, appointed CEO in March 2011,[3] Ahold announced a new phase of its growth strategy, "Reshaping Retail".