End doctrine
This car boss gets 30 million for doing nothing
Shoot and collect millions? That sounds decadent, but it’s a reality for former Volkswagen boss Herbert Diess. The ousted group chief still has a contract in effect that extends to 2025.
Get 30 million euros without moving a finger. This sounds like a Euromillions win. In fact, it is the salary that the former Volkswagen boss will have until 2025. He was fired last week. His old employer still had to pay him.
Herbert Diess, 63, was at the helm of Europe’s largest car manufacturer. He was considered a great figure who should have led the Volkswagen Group into the future of electric cars. But it was also highly controversial. Lower Saxony is a major shareholder in the group. Together with employee representatives, they wanted to get rid of Diess last year.
Rewards despite termination
The Porsche and Beech royals had other plans. They recently granted him the contract extension he requested until October 2025. But now they have lost faith in their boss.
It will cost Volkswagen a lot. annoying “Business Insiders” Diess is entitled to full pay until the end of the contract, i.e. for the next three years. This means that he must continue to collect rewards, even if he no longer contributes to them.
According to BI information, Diess should receive a total of about 20 million euros in bad years and up to 30 million euros in good years. (gif)
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
More Stories
Where there is more Pepsi than pepper
If China stimulates its economy, this could lead to higher inflation in the United States
CS loses $900 million with American shark Apollo – Inside Paradeplatz