Of course, Mr Winterkorn’s team should get rewarded as well. The entire management board's total compensation almost doubled to €70.6m, compared with €36m in 2012. The board consists of eight members. This means that on the average, each board member gets an annual pay cheque of about S$14.5m in 2011. It looks like sitting on the VW board is more lucrative than being a minister in Singapore.
VW's full-year net profit more than doubled to €15.4bn from €6.8bn, reflecting gains in the valuation of VW's share options on Porsche. Its 8.36 million sales was a 15% gain from year 2010. Despite the challenging conditions in Europe, VW commented that it was targeting a further increase in sales and revenue.
On a more conservative note, the group’s goal for operating profit this year is to match last year’s €11.27bn. The group added that cost controls will be important due to increasingly stiff competition in a challenging market environment.
Based on this comment, I believe we can expect to see even more component sharing among the different brands in the VW Group.