VW board cuts Winterkorn's 2012 pay

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Winterkorn will be paid $19.17 million for 2012

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• Martin Winterkorn
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• Volkswagen

BERLIN (Reuters) -- The Volkswagen supervisory board has taken steps to limit bonuses for CEO Martin Winterkorn and other top executives.

Winterkorn will be paid 14.5 million euros ($19.17 million) for 2012 in fixed salary, bonuses and incentives, compared with 17.5 million a year earlier, VW said on Friday, citing a ruling by the 20-member supervisory board.

Compensation of VW's eight other management board members also will be lowered.

Winterkorn is the highest-paid top manager among Germany's biggest companies. The IG Metall labor union has called for limits on top managers' pay packages.

Earlier this month, Winterkorn himself proposed that he should take a pay cut in an interview with Der Spiegel magazine, as the company prepares for wage talks with production staff in western Germany.

VW said on Friday that group operating profit rose 2.1 percent to 11.5 billion euros last year.

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