Dutch consumers boycott fat cat

Sep 17 2003 by Brian Amble Print This Article

The chief executive of Dutch food group Ahold today gave up a huge bonus and guaranteed severance package in the face of an unprecidented boycott of his company by consumers.

Dutch shoppers boycotted the country's largest grocery chain, Albert Heijn, in protest at the E3m (£2.1m) bonus and severance package awarded to Ahold chief executive, Anders Moberg.

Sales at the chain of stores suffered dramatically as shoppers used rival retailers.

But today, Moberg gave up the package.

"I understand that my current severance benefits and my guaranteed bonus are considered unacceptable in the Dutch environment," he said in a press release, "so I have taken the decision to modify both."

Ahold Press Release