The VW CEO is stepping down. He gets to keep his $32M pension, and a bonus worth 2 years of compensation (he was the second highest paid CEO in Germany last year with 16.6M euros). He also gets to use company cars, because you can't expect him to use his money for that of course.

The supervisory board’s executive committee said in a statement Wednesday that Winterkorn “had no knowledge of the manipulation of emissions data,” and that it respected his offer to resign and request to be terminated. It also thanked him for his “towering contributions” to the company.

When people do things at the company that are good for the company and the CEO's stock options, he reaps the rewards because he is ultimately responsible. When people do bad things he allegedly doesn't know about, he's suddenly not responsible at all, so keeps the rewards anyway. It's good to be King.

zerohedge.com/ne...ension