amsterdam - The Volkswagen top has received 27% more reward last year. According to the Supervisory Board, the reason for this was primarily the doubling of net profit.
Volkswagen tried after the losses and damage to image by Dieselgate to get rid of his shareholder cracked reward for the top. It has cut back on the remuneration policy last year, reports Tuesday the second car company of the world behind Toyota.
Volkswagen recorded a sales record last year. Topman Matthias Müller nevertheless gets 40% more than in 2016, with a total compensation of € 9.5 million for 2017. Including 'secondary employment conditions', that total amounts to € 10.14 million.
Müller's remuneration last year included a fixed salary of € 2.13 million, the annual bonus of € 3.5 million and a performance share plan of € 3.83 million.
The average member of the board of directors receives € 4.35 million, against € 5.55 million under the old VW scheme.
In 2015, twelve of the current and some former executives received a total of € 63.2 million, even when the car group posted a net loss of € 1.6 billion, its worst result ever.
Two years ago, the activist investor group TCI, under the leadership of Chris Hohn, who previously attacked ABN Amro, valued in a scathing letter the remuneration of the management of VW 'corporate excess of epic proportions'.
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