Ahold and Delhaize have decided to cut the huge bonuses, intended for its top management for their part in the successful merger, after complaints by investors.
No longer on the agenda
Ahold CEO, Dick Boer, will become the new CEO of the merger company and was in line to get a 1 million euro bonus, while Delhaize's Frans Muller would have received the same amount, although he would also get a stimulus package worth 1.5 million euro in shares.
However, investors were shocked by the bonuses, particularly because they felt that a CEO should help finalize a merger anyway and that such behaviour did not merit any additional bonuses, according to RTL Z. Normally, the bonuses would have been part of next week's shareholders' meeting, but the item has been removed from the agenda, both with Ahold and Delhaize.