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Royal Ahold has denied a report on Dutch television that the company; former CEO, Cees van der Hoeven, has demanded a severance payment that is the equivalent of $5.4 million (US).

The forced resignation by van der Hoeven earlier this year came after the company’s US Foodservice division revealed that it had overstated profits by a half-billion dollars over a two-year period.

Ahold has said that van der Hoeven’s severance package will be determined by an impartial arbitrator.
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