Ousted Volkswagen CEO Might Still Get $67M Payday, Plus Company Car

If I got fired — sorry, had to resign — from a CEO job because my company’s stock value had tanked in the middle of a worldwide product recall scandal, the most I’d expect to walk away with is my fancy CEO nameplate and the framed picture of my teacup basset hound “Drooly” that I keep on my desk. But the recently exiled CEO of Volkswagen could be wiping away his tears with a payout worth upwards of $67 million.

The Wall Street Journal reports that Martin Winterkorn, who stepped down from his gig atop the German automaker yesterday, already had about $33 million in his VW pension at the end of 2014. And according to the company’s annual report, there’s a severance payout rule that pays up to two years worth of their total annual remuneration.

That could mean another $34 million for Winterkorn, that is if the VW board says so. There is also the promise of a company car. We have some suggestions for some “clean diesel” models he should consider.

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