Audi CEO Rupert Stadler, who was arrested in June in suspicion for interfering in the criminal probe of the infamous dieselgate scandal is likely to receive a golden parachute earning him millions if he steps down as the company’s CEO.
With a few more years left in his contract, Stadler is expected to be reached out by Audi and Volkswagen to try and reach a deal for an early termination. Sources at Automotive news suggests that Stadler is expected to exit with a severance package as a part of the deal.
Reports suggest that both Audi and Volkswagen stated that Stadler was innocent until otherwise proven. However, it is reluctant to let Stadler continue as the CEO due to his compromised image which the companies termed as ‘damaged goods’. Meanwhile, the companies will neither fire Stadler as long as the allegations are not proved.
VW group has not yet revealed the extent of the contract. However, annual sales figures of the company imply that he was paid an additional compensation of $6.1 million for 2017, including benefits such as payments into his pension plan.
This is, however, not the first time that VW has made headlines with its generous exit payouts. Christine Hohmann-Dennhardt, an executive board member of the company was paid more than $8 million for a termination of a contract in charge of Integrity and Legal Affairs in January of last year.