Sunday, May 15, 2016

VW scandal in news ticker: VW board Renschler collected millions for doing nothing – ABC Online

Updated Sunday, 05.15.2016, 07:24
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VW manipulated world measurement data at eleven million vehicles in Germany alone, the Group must recall 2.4 million diesel cars. The leadership of the group knew well before the manipulations in the United States, as initially added

The facts:. Volkswagen has begun prepare the callbacks in the exhaust affair. On some models, the action should, however, still slow. In addition, there was controversy over the management bonuses. The Board has waived after much debate on a part thereof. (10.4 / 11.4). Other problems threaten the American FBI: The Authority asserts Volkswagen already lied in 2013 about emissions. (April 3 / 19:15). In early May it was announced that the British hedge fund investor Chris Hohn with its fund TCI has joined VW. He had difficult years ago Deutsche Börse life. Meanwhile, preparations for the VW annual general meeting on 22 June. The Board apparently to be relieved entirely (11 May 14:15).

VW board Renschler collected millions for doing nothing

Sunday, May 15 , 7:20: truck Board Andreas Renschler has received from Volkswagen after a report of “Bild am Sonntag” millions for doing nothing and in addition be entitled to an exceptionally high VW pension. The top manager left his longtime employer Daimler early 2014 and was allowed to begin the VW job only in February 2015 because of a noncompete.

For the 2014, in which he worked just one month, he received from Daimler 742000 Euro. Because the former supervisory board chief Ferdinand Piech VW wanted him necessarily, it is said, according to Bild am Sonntag on the supervisory board, VW paid him 11.5 million euros as an extra premium for the change and because he earned during the year break less than usual.

Renschler did not comment on his contract. His spokeswoman explained on request, in the payment of 11.5 million euros is “a compensation of lost claims” by switching to VW. Which claims this is concretely, they would not say.

In addition Renschler has negotiated according to “Bild am Sonntag” also has a special pension scheme. The 58-year-old must go already with 62 years, one year earlier than his fellow board members with full pay in retirement. He is entitled to 70 percent of his fixed salary, which currently stands at just over a million euros. So Renschler comes after only five VW-years on a monthly VW pension of around 60,000 euros, which he receives in addition to his Daimler pensions. “He has negotiated well,” it says in Wolfsburg, “for a top manager you have now time to shell out a lot of money.” The price of Volkswagen’s preferred shares

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