ABB probes "unsatisfactory" CHF233m pension pay-out

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SWEDEN/SWITZERLAND - Engineering giant ABB has ordered an investigation into whether two former chief executives were paid too much in pensions and benefits only hours before it announced a massive profit plunge for 2001.

ABB - which registered a $691m net loss for last year - said that it was now reassessing sums received by former CEOs Percy Barnevik and Göran Lindahl, adding that restitution will be sought of an...

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