The premature financial chief of the sports car manufacturer Porsche, Lutz Meschke (59), according to the company, receives a severance payment of 11.6 million euros. This sum called Supervisory Board head Wolfgang Porsche (82) on Wednesday at the Virtual Annual General Meeting of the DAX Group when asked by shareholders.
In addition, the car manufacturer pays this in February Surprisingly retired manager The references from his ongoing contract, which would have been going until the end of 2027, until the end of this year. “The agreements made with Mr. Meschke in the course of his departure are the result of negotiations,” said Porsche. Meschke kept his board position in the Porsche-Holding controlled by the VW owner families Porsche and Piëch.
Shareholder representatives criticized the fact that the severance payment for Meschke, which has not previously known precisely, exceeded the recommended limitation to two annual remuneration in the German Corporate Governance Codex, a rules for corporate management. Last year, Meschke received an overall remuneration from Porsche AG of 3.29 million euros.
The other three departing Porsche board members-shopping manager Barbara Frenkel, sales manager Detlev from Platen and HR board Andreas Haffner-does not receive a severance payment. According to Porsche, you will still receive your references to the regular end of your service contracts, some of which also run longer.