Ex-VW Boss Paid £13m For Scandal-Hit 2015

The former boss of scandal-hit Volkswagen (LSE: 0P6N.L - news) received a pay-off of €9.3m (£7.3m) after quitting last year, taking his total pay packet to €16.6m (£13m).

Martin Winterkorn, who resigned in September after the German car maker admitted cheating on diesel emissions tests, was among a dozen current or former VW executives whose total pay for the year - not including the termination payments - was €63m (£49m), its annual report showed.

That total included performance-related bonuses totalling €35bn (£27.2bn), with €5.9m for Mr Winterkorn. His pay packet before including the termination payment was €7.3m (£5.7m).

The average pay for VW executives was lower than last year and they have agreed to delay 30% of their bonuses in the wake of the scandal.

But the sums are still likely to raise eyebrows after Volkswagen last week reported a net loss of €5.5bn (£4.3bn) for the year, weighed down by the €16.2bn (£12.7bn) cost of addressing the scandal. It (Other OTC: ITGL - news) was its first loss in more than two decades.

Volkswagen has this week been setting out annual figures in further detail at an investor conference.

Chief executive Matthias Muller, who took over after the departure of Mr Winterkorn, said "nothing is being hushed up or concealed" by the company as it cancelled the publication of interim findings of a probe into the emissions cheating scandal.

The company has hired law firm Jones Day to investigate the practice of using "defeat device" technology to cheat on diesel emissions tests – a practice first uncovered in the US that was later found to affect 11 million vehicles worldwide.

But at the conference at the company's Wolfsburg headquarters, Mr Muller said it had been advised by lawyers that the planned release of interim findings of the probe would create "unacceptable risks", largely because of ongoing talks with US authorities.

Mr Muller also said VW was unable to disclose any further details about an agreement reached with US authorities last week covering 500,000 vehicles which would see the group buy back vehicles or compensate owners.

The chief executive said a court had asked for "strict confidentiality" over details of the deal. It is widely expected to cost VW $10bn (£7bn).

Mr Muller added: "Nothing is being hushed up or concealed at Volkswagen.

"We ourselves have the closest interest in learning everything about both the causes and the responsibilities in this matter.

"That is the only way we can learn the appropriate lessons from this and the only way we can ensure that nothing like this will happen at Volkswagen ever again."

Mr Muller added that there had been an "unexpected delay" in the plan to recall vehicles in Europe.

He said progress was being made with Audi (LSE: 0FG8.L - news) and Seat brands, but the group was still working on a solution for the Passat (LSE: 0NF6.L - news) .

A Golf refit campaign was to begin straight away after receiving clearance from German authorities (Other OTC: UBGXF - news) .