Reuters: Regulatory News: CEO of Deloitte's Dutch unit steps down, violated rules

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CEO of Deloitte's Dutch unit steps down, violated rules Mar 26th 2012, 17:24 AMSTERDAM, March 26 | Mon Mar 26, 2012 1:24pm EDT AMSTERDAM, March 26 (Reuters) - Deloitte said the chief executive of its Dutch arm had stepped down with immediate effect after breaking internal rules on owning stakes in companies whose books are audited by the accountancy firm. Deloitte Netherlands CEO Piet Hein Meeter, who took up the job on Jan. 1, did not take any decisions about the stakes he held nor was he involved in auditing companies in which he held stakes, Deloitte said on Monday. Because of Meeter starting as CEO, internal compliance studies were done earlier in the year than usual, resulting in the rule violation being discovered, Deloitte said. "Precisely because of his role model as CEO, Piet Hein Meeter, in consultation with the supervisory board, decided to step down with immediate effect as CEO and board member of Deloitte Netherlands in the interest of the organisation," Deloitte said. Deloitte is one of the so-called "Big Four" international accountancy firms and competes with Ernst & Young, PriceWaterhouseCoopers and KPMG in the Netherlands.

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