VW CEO Mueller’s Compensation Jumps 38% on Record Earnings

Volkswagen AG CEO Matthias Mueller collected €10.1 million ($12.5 million) in compensation for his work last year, up from €7.3 million under different rules in 2016.

Last year VW’s adjusted operating profit leaped more than 90% to a record €13.8 billion ($17 billion). Executive compensation at VW previously included bonuses based on financial results for the previous two years that would have boosted Mueller’s payout to €13.2 million.

Now the company caps CEO compensation at €10 million and pays other top executives no more than €5.5 million each. VW says the average compensation for its top executives rose 27% for 2017.

Mueller’s total package for 2017 exceeded the new cap because of retirement provisions and fringe perks.​​​