Supervisory Board Remuneration

(Part of the Group Management Report)

Following its regular review of Supervisory Board remuneration, the Supervisory Board proposed a reorganization of the remuneration system for the members of the Supervisory Board to the 2017 Annual General Meeting, which was approved on May 10, 2017 with 99.98% of the votes cast. The Board of Management and Supervisory Board will submit the remuneration system for the members of the Supervisory Board to the Annual General Meeting for approval in 2021 in line with the requirements of the AktG as amended by the ARUG II. The remuneration of the members of the Supervisory Board of Volkswagen AG is comprised entirely of non-performance-related remuneration components. Remuneration for supervisory board work at subsidiaries continues to comprise partly non-performance-related and partly performance-related components.

The following applies to members of the Supervisory Board of Volkswagen AG with effect from January 1, 2017:

  • The members of the Supervisory Board will receive fixed remuneration of €100,000 per fiscal year.
  • The Chairman of the Supervisory Board will receive fixed remuneration of €300,000, and his deputy will receive remuneration of €200,000.
  • For their work in the Supervisory Board committees, the members of the Supervisory Board will also receive additional fixed remuneration of €50,000 per committee per fiscal year provided the committee met at least once per year for the performance of its duties. Memberships of the Nomination and Mediation Committees established in accordance with section 27(3) of the Mitbestimmungsgesetz (MitbestG – German Codetermination Act) are not taken into account.
  • Committee chairpersons receive double this amount, while deputy chairpersons receive one-and-a-half times the committee remuneration listed previously.
  • The work on a maximum of two committees shall be included in calculating the remuneration. If this maximum is exceeded the two most highly remunerated functions shall be decisive for the respective remuneration.
  • Supervisory Board members who belonged to the Supervisory Board or one of its committees for only part of the fiscal year receive remuneration on a pro rata temporis basis.
  • Supervisory Board members receive an attendance fee of €1,000 for attending a meeting of the Supervisory Board or one of its committees; if several meetings take place on the same day, the attendance fee is paid only once.
  • The remuneration and attendance fees are each payable after the end of the fiscal year.

In fiscal year 2020, the members of the Supervisory Board received €5,341,196 (5,327,155). Of this figure, €2,294,167 related to the work of the Supervisory Board and €1,008,889 related to the work in the committees.

REMUNERATION OF THE MEMBERS OF THE SUPERVISORY BOARD

 

 

FIXED
REMUNERA-TION

 

WORK IN THE
COMMITTEES

 

OTHER1

 

TOTAL

 

TOTAL

 

 

 

 

 

 

 

2020

 

2019

1

Attendance fees, membership of other Group bodies (non-performance-related: €792,888; performance-related: €571,002).

2

These employee representatives have stated that they will transfer their Supervisory Board remuneration to the Hans Böckler Foundation in accordance with the guidelines issued by the German Confederation of Trade Unions (DGB).

3

Under section 5(3) of the Niedersächsisches Ministergesetz (German Act Governing Ministers of the State of Lower Saxony), these members of the Supervisory Board are obliged to transfer their Supervisory Board remuneration to the State of Lower Saxony as soon as and in so far as it exceeds €6,200 per annum. Remuneration is defined for this purpose as Supervisory Board remuneration and attendance fees exceeding the amount of €200.

 

 

 

 

 

 

 

 

 

 

 

Hans Dieter Pötsch

 

300,000

 

100,000

 

500,000

 

900,000

 

925,500

Jörg Hofmann2

 

200,000

 

75,000

 

24,000

 

299,000

 

289,000

Hussain Ali Al Abdulla

 

100,000

 

 

3,000

 

103,000

 

105,000

Hessa Sultan Al Jaber

 

100,000

 

 

9,000

 

109,000

 

107,000

Bernd Althusmann3

 

100,000

 

50,000

 

13,000

 

163,000

 

157,000

Kai Bliesener2 (since June 20, 2020)

 

53,056

 

 

6,000

 

59,056

 

Hans-Peter Fischer2

 

100,000

 

 

13,000

 

113,000

 

107,000

Marianne Heiß

 

100,000

 

50,000

 

89,500

 

239,500

 

250,500

Johan Järvklo2 (until February 29, 2020)

 

41,111

 

 

4,000

 

45,111

 

107,000

Ulrike Jakob2

 

100,000

 

 

13,000

 

113,000

 

106,000

Louise Kiesling

 

100,000

 

 

13,000

 

113,000

 

107,000

Peter Mosch2

 

100,000

 

100,000

 

168,500

 

368,500

 

390,500

Bertina Murkovic2

 

100,000

 

79,444

 

21,000

 

200,444

 

157,000

Bernd Osterloh2

 

100,000

 

125,000

 

172,000

 

397,000

 

387,000

Hans Michel Piëch

 

100,000

 

29,444

 

185,000

 

314,444

 

289,000

Ferdinand Oliver Porsche

 

100,000

 

150,000

 

164,000

 

414,000

 

435,000

Wolfgang Porsche

 

100,000

 

150,000

 

192,390

 

442,390

 

433,500

Conny Schönhardt2 (since June 21, 2019)

 

100,000

 

50,000

 

17,000

 

167,000

 

81,389

Athanasios Stimoniaris2

 

100,000

 

 

324,250

 

424,250

 

482,040

Stephan Weil3

 

100,000

 

50,000

 

20,000

 

170,000

 

163,000

Werner Weresch2 (since February 21, 2019)

 

100,000

 

 

86,500

 

186,500

 

165,352

Members of the Supervisory Board who left in the previous year

 

 

 

 

 

82,374

Total

 

2,294,167

 

1,008,889

 

2,038,140

 

5,341,196

 

5,327,155