Ahold has announced the completion of the investigation into its Argentine subsidiary Disco and the appointment of two new directors following yesterday’s resignation of Disco's board and top management

On Monday Ahold revealed it was using forensic accountants to investigate “the legality of certain transactions and the accounting treatment” at Disco.

The investigation concluded “that there will be no material impact on Ahold's financial results.”

Meanwhile two new directors have been appointed by Ahold to the Disco board: Alfredo Garcia Pye, currently country manager of Ahold's Santa Isabel operation in Peru, has been appointed CEO, and Pieter de Nooij, currently member of Ahold's Latin America support group,has been appointed chief financial officer.

An Ahold team from the Netherlands has also been installed at Disco to offer active support to the company, enforce controls and ensure compliance with the ‘Ahold Business Principles’.