VW cuts management bonuses in wake of emissions scandal
News
14 Apr 2016
Volkswagen (VW) has confirmed that it will cut the bonuses of its management board in the fall out of the diesel emission scandal.
A statement released by the company said that the management board had jointly agreed to the decision ‘given the current state of the company’.
Full details are expected to be published in the company’s annual report on 28 April.
The official statement read: “Supervisory board and management board jointly agreed that – given the current situation of the company – a signal should also be sent with respect to the topic of the management board’s remuneration.
“Different models which would constitute a reasonable and fair solution for all parties involved are currently discussed and coordinated. As a consequence, this would lead to a significant reduction of the variable remuneration.”
