MACY’s Inc. To more than $ 600,000 as cash rewards from CEOs after an accounting scandal that led to an enlarged wage.
Messi said in one of the diseases that was presented on Tuesday, that the trained store operator linked the cash rewards to the executives on the scale of profits, which turned out to have been exaggerated by about $ 81 million in 2023.
This means Messi’s paid executives of $ 609,613 as of the end of 2024,The company said. She added that some of this has already been cleared, and therefore the distinguished amount amounted to 352,093 dollars as of April 1.
The company’s compensation committee said it “will seek to recover the remaining amount of compensation granted by mistake” from the executives. Messi did not mention the people whose rewards will be affected. A spokesman for the comment refused.
Messi alsoHe said on TuesdayIts financial manager was leaving. The company said it was replacing it with his counterpart in Capri Holding Ltd. Thomas J
Under the US Securities and Stock Exchange Committee rulesPublic companies must assess whether they need to cancel corporate rewards if they reveal accounting errors that have erred in estimating previous profits.
In November, Messi was late to make profits and then issued a lower profitExpectationsAfter the investigation was found that the employee was deliberately hiding more than $ 150 million in delivery expenditures from the fourth quarter of 2021 to the third quarter of 2024. The investigation did not reveal evidence of missing money or unpaid sellers, and instead he referred to accounting errors by the former employee, who also forged documents to hide the problem, according to the company.
This story was originally shown on Fortune.com
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