WOLFSBURG, Germany: Embattled German auto giant Volkswagen said Thursday that its top executives would be paid a total 63.2 million euros ($72 million) for 2015 despite the huge loss incurred from the massive engine-rigging scandal.
But a large chunk of that pay will be held back for a period of three years and only be paid out if the group’s share price rises by an agreed amount in the intervening period.
VW revealed in its annual report, published on Thursday, that chief executive Matthias Mueller, appointed late last year to steer the group out of its deepest-ever crisis, would be paid 4.76 million euros.
The amount comprises a fixed basic salary of 1.1 million euros plus performance-related bonuses of 3.65 million euros.
Martin Winterkorn, whom Mueller replaced soon after the scandal broke, would receive 7.31 million euros, down from 15.86 million euros the year before, the report showed.
