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Dow Jones reports that Royal Ahold will be taking back some of the bonus money paid to members of its supervisory board who were directors of the company when its profits were being inflated by almost $1 billion (US) due to irregular accounting procedures.

The amounts being requested have not been identified, nor have the specific executives. However, Dow Jones speculates that they could include Bill Grize, who currently runs Ahold USA, and Bob Tobin, who used to. The reclamation project apparently will not include former CEO Cees van der Hoeven and former CFO Michiel Meurs, both of whom were forced to resign in the wake of the accounting scandal and who are arbitrating their severance packages.
KC's View:
Since bonuses are paid based on profits, we suppose that this is the right thing to do. And Dow Jones notes that the executives involved are willing to do the right thing and repay the money. That's admirable.

But we still hate the idea that van der Hoeven and Meurs may walk away from the company with big checks.