Booking will return 110$ millions in Covid-19 aid, after Dutch criticism
For several weeks, the salaries that the senior executives of the Booking company received during the year 2020 began to be rumored, in the midst of a pandemic, which brought with it criticism, prompted by the Dutch parliament.
Dutch politicians criticized the total compensation
In particular, Dutch politicians criticized the total compensation of the General Director Glenn Fogel during 2020, which was 7.1 million dollars, and that of the CFO David Goulden, which amounted to the amount of 24 million dollars.
Faced with this situation, the company defended the fact that the payments, which were mostly in the form of shares, and depended on future results. “Although we have not fully recovered, we have listened to Dutch society and taken these considerations seriously,” said Leslie Cafferty. He also indicated that “We are grateful to the Dutch government for the support to help us preserve jobs for as long as possible and we look forward to continuing to work with the government and our community in the future.”
US Securities Market Commission
Due to this situation, Booking Holding has stated in a presentation before the US Securities Market Commission, that it would return some 110 million dollars that it had received from various governments, including 78 million dollars in the Netherlands. They stated that although the reason for which they accepted the aid was due to the severe crisis produced by the pandemic. Now the rate of reserves is beginning to take its course, and the company is beginning to feel encouraged, so it is time to return what is assigned.
For its part, other news about this company, it is important to mention that it reported an operating loss of 12,500 million dollars in 2020, below the operating income of 6,600 million dollars in 2019. The company’s shares have recovered the ground lost at the beginning of the pandemic and have reached record highs in anticipation of a rebound in travel this year.
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