The Advisors' Blog

– Broc Romanek

Here’s the intro to this Reuters article:

Volkswagen is shaking up its executive pay with a cap on earnings, it said on Friday, as it looks to quell widespread anger over bonuses paid even as the carmaker suffered record losses in the aftermath of the emissions scandal in 2015. Under new rules approved by the supervisory board on Friday, Volkswagen (VW) will cap total pay for its chief executive at 10 million euros ($10.6 million) and other top managers at 5.5 million euros.

VW became the target of fierce criticism from the German public and shareholders after its managers only reluctantly accepted a cut to bonus payments of about 30 percent. Bonuses were based partly on VW’s performance over the previous two years.