Volkswagen Finance Chief Promises Executive Pay Overhaul – Wall Street Journal

BERLIN—Volkswagen AG Chief Finance Officer Frank Witter pledged in a letter to activist fund manager Chris Hohn that the embattled German car maker would boost profit and overhaul its pay system for top executives as part of a broader strategy review.

In the letter, which was reviewed by The Wall Street Journal, Mr. Witter said the German car maker shared concerns expressed earlier this month in a letter from Mr. Hohn, head of the…

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