The salaries of top Volkswagen group executives are no longer confidential. German companies such as VW are now publishing the information as they finally comply with prevailing corporate governance rules.
In 2004, VW group Chairman Bernd Pischets-rieder earned E2,631,479, a salary of E831,479 and a bonus of E1.8 million.
Ferdinand Piëch, chairman of VW’s supervisory board and Pischetsrieder’s predecessor, earned a salary of E22,000 and a bonus of E225,000.
Compared with what French and US counterparts were paid in 2003, Pischetsrieder’s compensation is in the middle.
Renault Chairman Louis Schweitzer earned E1,981,812 and PSA/Peugeot-Citroen CEO Jean-Martin Folz got E1,629,000 in 2003. That year General Motors CEO Rick Wagoner made $5 million (E3.7 million), plus $7.6 million in bonuses, stocks and stock options, and Bill Ford, head of Ford Motor Co., earned about $14.6 million.