Volkswagen AG wants its managers to be more team-oriented and is eliminating individual performance when determining executive bonus payouts.
Starting next year, the remuneration of more than 400 top managers will be based on overall group performance, indicated through stock prices as well as earnings and operating achievements.
“We are clearly placing the emphasis on joint performance,” Gunnar Kilian, VW’s personnel chief, said Dec. 19 in a statement. “The group, the brands and the regions will all be pulling in the same direction.”
- The changes are meant to align Volkswagen’s senior management interests closer to investors.
- In response...