AMSTERDAM — An appeals court here has sentenced three former Ahold executives to suspended sentences and fines over their roles in the retailer’s 2003 accounting scandal, reports said.
Cees van der Hoeven, the former chief executive officer, was sentenced to pay a fine of about $39,000 (U.S.) Michiel Meurs, the former chief financial offer, was sentenced to 240 hours of community labor, fined $131,000 and given a six-month suspended sentence; and Jan Andrae, a former board member, was given a three-month suspended sentence and fined $65,500.
The penalties were lighter than those imposed by a lower court in 2006, Reuters reported.
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