Vestia wants millions of euros back from former CEO

Rotterdam housing corporation Vestia wants its former CEO Erik Staal to pay back millions of euros, according to the Telegraaf on Tuesday.

Staal, who resigned in February following financial problems at the organisation, was paid a massive salary and a golden handshake of €3.5m.
According to the Telegraaf quoting internal sources, an investigation into Staal’s salary and severance bonus gives Vestia enough ammunition to claim back the €3.5m.
Vestia, the Netherlands’ biggest housing corporation, ran into difficulty after speculating on the financial markets on interest rates. Staal said in February he was standing down in the best interests of the company.
Should he repay the money? Have your say using the comment box below.

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