Letter Alleges Wrongdoing at Ahold

Discussion
Mar 03, 2003
George Anderson

By George Anderson


An anonymous letter sent to Dutch government officials signed by “A very concerned person involved” alleges Ahold’s problems may be more widespread than U.S. Foodservice overstating earnings.


The Washington Post reports the letter’s charges include:


  • Argentinian executives of the company have received bribes. It also alleges the executives have used company funds for financing private homes.

  • U.S. Foodservice executives have received secret bonuses.

  • “Ahold has been booking 100 percent of sales and profit of a Scandinavian unit, despite owning only half the shares.”

  • Ahold and Deloitte Touche Tohmatsu, have been at odds over irregularities the auditor discovered at U.S. Foodservice.

Moderator’s Comment: If you were running Ahold now,
what would you do?
[George
Anderson – Moderator
]

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