Ahold Suspends 10 U.S. Foodservice Execs
NEW YORK -- Ahold has suspended 10 more executives tied to its scandal-ridden U.S. Foodservice unit, according to a published report, citing sources familiar with the situation.
The suspensions, which occurred about two weeks ago, are related to "violations of corporate policy" but are not directly related to the unit's overstating of earnings by about $900 million, the source said.
The company, which has forced out several senior executives, has tightened up its internal controls and audit policy since the accounting problems were first publicly revealed in February, and it has been conducting a forensic investigation of its books. Ahold expects to name a new head for U.S. Foodservice sometime next week.
The suspensions, which occurred about two weeks ago, are related to "violations of corporate policy" but are not directly related to the unit's overstating of earnings by about $900 million, the source said.
The company, which has forced out several senior executives, has tightened up its internal controls and audit policy since the accounting problems were first publicly revealed in February, and it has been conducting a forensic investigation of its books. Ahold expects to name a new head for U.S. Foodservice sometime next week.
