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Cees van der Hoeven, the Ahold CEO who was forced to resign in the wake of an accounting scandal at the company in which it turns out that profits were overstated by more than a billion dollars over a two-year period, reportedly has started arbitration proceedings against the company looking for a financial settlement.

When van der Hoeven left the company last February - along with then-CFO Michiel Meurs - it was agreed that any severance package would be determined by an impartial arbitration panel.

Ahold's current management says it will not comment on the proceedings until they are completed.
KC's View:
What was it that van der Hoeven said a few months ago?

That he had responsibility but no guilt? Or was it guilt without responsibility?

Either way, now what he's looking for is, in essence, gilt.

Which seems roughly like giving a severance package to the ferry captain who recently drove NY's Staten Island Ferry into a dock and killed a bunch of people.

How many people lost their jobs or have been thrown into economic disarray because van der Hoeven was asleep at the switch? How many retirement funds have collapsed? How many reputations have been sullied?

Investigations continue in both sides of the Atlantic into Ahold's corporate behavior, and the effect that a culture created by people like van der Hoeven had on sales, profits, productivity…and, oh yes…honesty and integrity.

We think it is way too early to start handing out money to people who have resigned in disgrace. Let's first find out exactly how much responsibility AND guilt he has in this mess.