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VW top brass set to have bonus payments cut

Own request: VW chairman Hans Dieter Poetsch was reportedly promised a payment of about €10m for stepping down as CFO last year. He has now agreed to take a cut to remuneration “given the current situation of the company”.

Bonuses for VW chairman, other management to be slashed in wake of emissions scandal

14 Apr 2016

- Volkswagen Group chairman Hans Dieter Poetsch and other members of the European auto giant’s top management have agreed to take a “significant reduction” in their bonus payments as the global diesel emissions scandal continues to play out.

- In a statement, Volkswagen said the supervisory board and management board had jointly agreed that “given the current situation of the company, a signal should be sent with respect to the topic of the management board’s remuneration”.

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