‘Freeze option deals during takeovers’

The share and options packages held by board-level staff should be frozen during takeovers, say a majority of MPs from across the political spectrum.

Support for the idea emerged during an emergency parliamentary debate on the estimated €26m which ABN Amro CEO Rijkman Groenink has made from his options following the sale of the biggest Dutch bank.
‘I find it very hard to explain why shopfloor workers are losing their jobs while the top level get millions of euros,’ Liberal (VVD) MP Frans Weekers was quoted as saying by ANP.
Labour financial affairs spokesman Paul Tang was harsher, saying the deal revolved around ‘failing ego-tripping managers and passive supervisory boards’, ANP reported.
Finance minister Wouter Bos said he was sympathetic to the options freeze idea, but warned MPs not to call Groenink’s integrity into account.

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