AMSTERDAM (Reuters) -U.S. travel firm Booking Holdings Inc. on Friday said it will repay $110 million in assistance it received from governments during the COVID-19 pandemic, following criticism in the Dutch parliament about the company’s 2020 executive pay.
In a filing with the U.S. Securities and Exchange Commission, the company said it would repay some $110 million it had received from various governments, including $78 million in the Netherlands, home of its largest subsidiary.
“While the decision to accept this assistance was made during a period when the Company’s business was severely impacted and the timing and pace of the recovery of the travel industry was very uncertain, the Company is now encouraged by the improving booking trends,” it said.
Dutch politicians had criticised 2020 total compensation for CEO Glenn Fogel of $7.1 million and $24 million for CFO David Goulden. But in a debate on June 2 the country’s social affairs minister had said there was no legal basis to…