Vw CEO Martin Winterkorn receives a substantial pay rise

Article by Christian A., on March 12, 2012

The best-paid CEO among the 30 companies listed on Germany's DAX Index is Martin Winterkorn, the CEO of the Volkswagen Group (which posted a record profit in 2011). Winterkorn had earnings amounting to 17.5 million euros ($23 million), which is 87% higher than 2010's 9.33 million euros. An 11 million-euro bonus is included in last year’s earnings.

Winterkorn's pay increase is proof of Volkswagen’s "clear earnings advancements" under his leadership, according to personnel chief Horst Neumann. In January 2007, Winterkorn was named VW CEO. The second best paid executive on VW's eight-member management board is Chief Financial Officer Hans Dieter Poetsch.

He earned 8.1 million euros last year, higher than the 4.2 million euros reported in 2010. The total compensation of the management board went up by a shocking 92.4% to 70.6 million euros.

VW's earnings before interest and taxes rose 59% in 2011 to 11.3 billion euros. A record 8.3 million vehicles was sold by Volkswagen in 2011. Some of its brands are Audi, Bentley, Skoda and Seat. This is 15% higher than the previous year. On the other hand, the pay given to Daimler CEO Dieter Zetsche fell a bit last year to 8.65 million euros. This is despite the company’s record results.

Bentley’s newest Continental GT has been redesigned, now featuring a host of new design features on the exterior. The goal of course was to make sure that this well-known Grand Tourer would have its on-road presence enhanced.

Highlighting the iconic profile even more is the addition of three new colors for the exterior. The first is a soft golden tone known as Camel, the second being the bright and light metallic blue Jetstream, and the third that rich metallic blue called Marlin. On the rear section, the boot lid has become more sculpted with the aerodynamic profile of its trailing edge being made more prominent.

The bumper in this section of the vehicle has a new shape and by making it wider, it exudes more power. It even has a full-width brightware. Since the Continental range is rather large, the brand made sure to implement a new design on the rear diffuser of both the V8 S and the GT Speed, in order to make them easier to differentiate from the rest. On the front section, the fenders are made more prominent as well. Combined with the new bumper and a radiator shell that is clearly smaller, it gives the Continental GT a more confident and assertive attitude.

The fenders on the front come with a new vent and are rounded off with the metallic “B” decoration. This helps improve and highlights the celebrated power line of the brand that begins from the arches in the front and goes all the way to the rear.

Aside from the GT Speed, the W12 and V8 S variants will also have fender badges in chrome. Rounding off the redesign is the addition of new wheels to the already available 20-inch version and 21-inch wheels.

For the V8 and the W12, they will have the six-tri-spoke 20-inch wheel as standard. However, under the W12 the wheels will be machined with the V8 having a painted finish. Meanwhile, the Mulliner Driving Specification wheel utilizes the 7-twin-spoke design with spokes that are bright machined and finished using Graphite Grey. Then there is the new five-spoke directional 21-inch sports wheel added for the V8 S, and even the GT Speed.

Topics: vw, ceo

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