Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
    • Browse photos from the 2021 awards ceremony
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • TUV Rheinland: Battery testing center for large battery packs and more
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automotive News Europe
April 11, 2016 01:00 AM

Volkswagen CEO seeks cut to board bonuses, report says

Andreas Cremer
Jonathan Gould
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    REUTERS
    A German newspaper reported that VW CEO Matthias Mueller would ask board members to accept a voluntary bonus reduction of about 30 percent.

    FRANKFURT -- Volkswagen CEO Matthias Mueller will push for a significant reduction in bonuses for the automaker's management board on Monday, sources familiar with the matter told Reuters.

    The proposal being put forward at a supervisory board steering committee meeting follows criticism from one of Volkswagen's major shareholders, the state of Lower Saxony, about intentions to pay bonuses to top managers while the company grapples with the diesel emissions crisis and prepares to cut costs elsewhere.

    Bonuses for senior managers have become a flashpoint in an escalating dispute with powerful labor leaders at Europe's biggest carmaker as it prepares to finalize a new strategy.

    Separately, Germany's Bild am Sonntag newspaper said in an unsourced report that Mueller would ask board members to accept a voluntary bonus reduction of about 30 percent.

    Volkswagen declined to comment.

    On Friday sources familiar with the matter told Reuters that the steering committee would use Monday's meeting to discuss the emissions scandal investigation and VW's financial position ahead of its annual report, due to be published on April 28, as well as bonuses and friction between management and labor.

    Monday's meeting will lay the groundwork for a full meeting of the supervisory board, originally scheduled for April 20, which is due to ratify 2015 results and executive compensation. Lower Saxony, which holds a 20 percent stake in VW, has two seats on the 20-member supervisory board.

    Handelsblatt newspaper reported on Saturday that the full supervisory board meeting would be delayed by at least two days because talks were dragging on with U.S. authorities about how to make almost 600,000 diesel cars compliant with U.S. environmental standards.

    VW declined comment.

    RECOMMENDED FOR YOU
    Hyundai marketing VP Andreas-Christoph Hofmann to speak at Automotive News Europe Congress
    Related Articles
    Dealer puts VW crisis on camera
    VW agrees to safeguard German jobs to quell labor unrest
    Recommended for You
    Andreas-Christoph Hofmann 2021 Eurostars
    Hyundai marketing VP Andreas-Christoph Hofmann to speak at Automotive News Europe Congress
    Monica Perez Lobo Toyota 2022
    Toyota Europe ESG director Monica Perez Lobo to speak at Automotive News Europe Congress
    Philippe Houchois, managing director of Jefferies Group
    Jefferies analyst Philippe Houchois to speak at Automotive News Europe Congress
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
        • Browse photos from the 2021 awards ceremony
    • More
      • Publishing Partners
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • TUV Rheinland: Battery testing center for large battery packs and more
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us