Volkswagen CEO to receive $32M pension

21 points·jazzyk··12 comments

http://fortune.com/2015/09/23/ceo-volkswagen-pension/

The supervisory board thanked him for his "towering contributions" to the company.

Heads I win, tails you lose.

Of course they're going to give him money. He made VW a lot of money and fell on his sword for them.

But this isn't just for him, this is a message to all potential successors saying that if they make the company money, then they'll be taken care of no matter what happens.

The only way to make this sort of thing not worthwhile is to fine them a combination of the revenue made from the vehicles that this was in, and also some sort of punitive amount. Just a small punitive amount will simply be written off.

A potential $20B fine, maybe, with years of litigation is still a good deal after a $50B ensured profit now. This is how you do risk management.

And also why society needs to up the ante.

I think this Volkswagen buzz is going to add a revolution to the automobile industry, a negative one. We might see emission benchmarks getting altered across the globe. With the news of BMW and Audi also violating the emissions, all these giants are TOO big to be effected by any such fiasco.

This always happens when CEOs are ousted from a company. It's just corporate culture. If you're trying to say this a bigger problem with the business world and society in general, then I agree with you, but there aren't too many companies that wouldn't do the same thing.

He may also get another $30M or so in severance package, but that's up to the board.

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