Fritz van Eerd, the former CEO of Jumbo Supermarket and a previous sponsor of Formula 1 driver Max Verstappen, has been sentenced to two years in prison after a lengthy fraud investigation. The decision came after Dutch authorities uncovered multiple criminal offenses involving van Eerd, who was active in the company since 1996.

During the inquiry, van Eerd faced accusations including forgery, money laundering, and accepting bribes. Reports revealed that a significant amount of cash—€448,000—was discovered hidden across his private residence and company offices. His resignation from the CEO role coincided with the ongoing investigation, marking a turbulent period for the supermarket giant.

Jumbo Supermarket’s Leadership Change Amid Crisis

Van Eerd’s departure led to Ton van Veen assuming the CEO position in late 2022. Van Veen’s takeover was a crucial moment, as Jumbo sought to stabilize and refocus its operations after the scandal emerged.

Under van Eerd’s leadership, Jumbo had transformed into one of the Netherlands’ largest retail chains. In addition to its commercial growth, the company was involved in high-profile sports sponsorships, most notably supporting racing drivers like Max Verstappen. This sponsorship arrangement began in 2014 but came to an end following the 2023 Formula 1 season.

Reasons Behind Jumbo’s Exit From Max Verstappen Partnership

Explaining the decision to end sponsorship with Max Verstappen, Ton van Veen emphasized the company’s need to realign with its core business goals. Speaking to Dutch media outlet De Volkskrant in January 2024, Van Veen shared insights into the rationale behind stepping back from costly sports endorsements.

“In recent years, Jumbo has lost its focus somewhat. We have added a number of activities that have not necessarily strengthened the formula. We have also become very active in sports sponsorship.” —Ton van Veen, CEO

“But when you look at the successes of athletes and teams, you have to ask yourself if that suits us. Max Verstappen is a World Champion. But we are a Dutch supermarket company, not even the biggest. On the world stage, we don’t have much business.” —Ton van Veen, CEO

“That means we no longer put tens of millions into sports sponsorship, but use it to lower prices. That is the essence of Jumbo as it was meant to be.” —Ton van Veen, CEO

Max Verstappen’s Achievements During Jumbo Sponsorship

Throughout the partnership, Max Verstappen achieved remarkable success, winning three of his four Formula 1 World Drivers’ Championships while supported by Jumbo Supermarket. The Red Bull Racing driver, now 27, secured a total of 19 victories in the 2023 season alone, bolstering both his reputation and the visibility of the retail chain on the racing stage.

Implications of the CEO’s Conviction and Sponsorship End

The conviction of Fritz van Eerd marks a significant setback for Jumbo Supermarket, highlighting challenges related to leadership integrity and corporate responsibility. The end of the Max Verstappen Jumbo sponsorship signals a shift in marketing strategy, prioritizing core business stability and price competitiveness over high-profile sports investments.

As Jumbo moves forward under Ton van Veen’s leadership, the company faces the task of restoring public trust and reinforcing its domestic market position, especially after losing ties with a world-renowned sports figure. This transition may reshape the supermarket’s brand presence both in the Netherlands and internationally.