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VW executive board accepts bonus cuts by at least 30%

Wednesday, April 13, 2016 - 19:29

[HAMBURG] Volkswagen's top management board has accepted cuts of at least 30 per cent in bonus payments, one person familiar with the matter said, as the carmaker struggles to resolve a dispute over executive compensation.

Further measures aimed at trimming variable remuneration for senior managers by more than 30 per cent are also under discussion, the person told Reuters on Wednesday.

One option may be that Volkswagen (VW) executives invest in the carmaker, the person said, as it is grappling with the fallout from its diesel emissions scandal.

Volkswagen declined comment.

REUTERS

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