% | $
Quotes you view appear here for quick access.

Chiquita Brands International Inc. Message Board

  • kkr1095 kkr1095 Dec 8, 2010 6:52 AM Flag

    GM for Finland Commits Fraud


    At what point are Chiquita going to start disclosing big events? Ok this news is old at Chiquita but is an indicator of how there is a lack of Corporate Governance. I guess keeping things close to the belt is the best way to avoid scrutiny.

    The dirt is starting to come out on how they do not wish to disclose things but I am hearing that this guy was doing this for about 10 years and it was a web of companies being paid and employees receiving benefits etc....

    A friend is telling me this happened late last year and it was several millions euros and that about 8-10 people where let go and most of them in sales. Also, that the company is not prosecuting the guy because they did not want bad press in a market where they are losing market share already. It seems the GM was in charge of several Countries in the Nordic region.

    I am sure there is a Chiquita employee who can shed more light on this topic. I was told this has been kept rather quiet but a ton of people know in Europe as there was an email sent out by the Europe President discussing the fraud and there are ongoing lawsuits regarding terminations etc....

    This management team is a mess to hear that this had been going on for many years and customers and vendors were involved in this web.

    SortNewest  |  Oldest  |  Most Replied Expand all replies