Thursday, April 28, 2016

Lush bonuses: Ex-VW CEO Winterkorn bagged a million – n-tv.de NEWS


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 Thursday, April 28, 2016

 
 
 


 
 At the million salary for Volkswagen there is plenty of criticism – even more so facing the exhaust scandal. Although the former CEO Winterkorn has suffered losses, but still earned handsome.

 


 
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The retired in September former VW boss Martin Winterkorn has pocketed 7.3 million euros salary last year, regardless of the exhaust scandal. This is clear from the Volkswagen Annual Report. Accordingly, it accounted for nearly 5.9 million euros in performance-based variable salary components. 2014 Winterkorn had collected nearly 16 million euros.

Winterkorn successor Matthias Müller received in 2015 approximately 3.9 million euros. Müller sat as chief of VW subsidiary Porsche already the year 2015 the Board of the Wolfsburg Group -. The bulk of his salary comes from this time

The former CFO and current supervisory board chairman Hans-Dieter Pötsch was loud Annual Report 2.9 million euros. He gave as all currently active board members because of the scandal on a portion of his bonus. However, he has let the exchange by the board at the head of the supervisory board, according to company insiders sweeten with a double-digit million euro sum. Supervisory Board members earn significantly less than directors. For his work as head of the control body Pötsch received from early October until the year 13,400 euros.

In recent weeks, the issue of bonuses for the VW board members had had repercussions in the public. Because the diesel scandal and consequent billion expense for the Group a complete waiver had been brought into the conversation. De facto sweeps VW’s top managers now 30 percent of their bonuses.

Depending on how the company handled the scandal and develop business in the coming years, however, the retroactive payment is possible from 2019. By this reckoning, CEO Muller could retroactively collect 8.6 million euros for 2015, for him best, at worst, it would remain to be fixed salary of 1.1 million plus pension costs.

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Absolute top earner on the board of Europe’s largest carmaker was last year in charge of the commercial vehicle business Andreas Renschler. He was around 15 million euros – though contained therein is a signing bonus of 11.5 million euros for his transfer from Daimler to Volkswagen

The head of the core VW brand, Herbert Diess, the Wolfsburg-based group made his move from. BMW palatable to the Lower Saxony with a premium of five million euros. His salary was a total of 6.8 million euros.

  Source: n-tv.de
 


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