Former Foodservice CEO To Pay $8M To Settle Suit

Law360, New York (December 18, 2007, 12:00 AM EST) -- Royal Ahold announced Tuesday that the former chief executive officer of its former U.S. subsidiary will pay $8 million to settle a legal dispute that became entangled in an accounting scheme that exaggerated the unit’s earnings.

James Miller, who helmed U.S. Foodservice for about 10 years, will receive health and retirement benefits in return.

Miller, who was never charged in connection with the fraud allegations, brought the suit against his former employer in 2004 alleging breach of contract, among other things. The Dutch company fired back...
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