► VW chief pushes for smaller bonus
► Mueller wants ‘significant’ pay cuts
► Dieselgate fall-out continues
The reforming Volkswagen CEO Matthias Mueller is pushing for a significant cut in bonuses to members of the management board, according to reports in the German media.
Bild am Sonntag claims that the chief is asking board members to accept a voluntary bonus cut of around 30% in response to the Dieselgate scandal that’s rocked Europe’s biggest car maker.
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Pay cuts for VW management
The state of Lower Saxony, a major shareholder in Volkswagen with a 20% stake, and unions have complained about proposed bonuses payable to the company’s leadership, sparking the debate at today’s supervisory board meeting, reports Reuters.
VW is having to set aside billions of euros to pay to fix cars affected by its emissions cheating software.
Expect a further update at the company’s annual report, due to be published on 28 April 2016.
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