VW compliance boss handed £8.6m pay-off
- February 1, 2017
- Posted by: Simon Wait
- Category: Industry News
Volkswagen will give its departing head of compliance an £8.6m pay-off after only 13 months in the job.
It’s been reported that Christine Hohmann-Dennhardt, who joined VW on a three-year deal to help it improve culture and processes following the emissions scandal, will receive the sum when she leaves this month.
Part of the package is the result of VW buying the former judge out a financial package with former employers, Daimler.
She said, ‘The fact that a contract is fulfilled is a very normal process. I have nothing to hide.’
Christine Hohmann-Dennhardt said in a statement last week that she was leaving because of differences with the company regarding their understanding of responsibilities and future operating structures within the function she leads.
The news comes after it was announced that VW overtook Toyota as the world’s largest car manufacturer in 2016.
It sold 10.3 million vehicles compared to the 10.2 million sold by Toyota, which had been number one for four years.