Ex Fortis CEO may get €5m pay-off
Wednesday 01 October 2008
Herman Verwilst, who resigned as the acting CEO of Dutch-Belgian financial services group Fortis on Friday after just 78 days in the job, is entitled to an exit package of over €5m, the NRC reports on Wednesday.
On Tuesday, Dutch MPs urged finance minister Wouter Bos to make sure Fortis managers who were responsible for the problems were not given big pay-offs.
Bos said he would keep an eye on the deals struck within the Dutch arm, where the government is now a shareholder. The Belgian government has already objected to the deal, the NRC says.
For the full NRC story, click here
© DutchNews.nl
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Monday: Between 2º and 5º with light snow or sleet. Around zero at night. Similar Tuesday
Obviously the "common mortals" that make up the workforce, especially if the are ex ABN AMRO Asset Management employees won't see any bonuses or promotions as they'll be told that there isn't any money for the bonuses this year because of the economic crisis. The ex ABN employees (the few that haven't been made redundant YET and/or haven't left yet) will probably get a letter of redundancy.
It's disgusting to see in how short a time they've managed to destroy something that was so good.
By LS | October 1, 2008 5:02 PM