(Adds comments from head of works council, details, background)
* Management board considers new volume targets for 2022
* Supervisory board eyes limits to gains in manager pay
* VW will not reach 10 million unit sales this year
By Andreas Cremer
WOLFSBURG, Germany, Jan 31 Volkswagen's
top managers are drawing up new expansion goals
stretching as far as nine years ahead as steady volume gains
have already propelled the German group within reach of its
current sales target for 2018.
"We definitely need a new (growth) strategy," Bernd
Osterloh, head of VW's works council, told reporters in
Wolfsburg on Thursday.
The new targets VW's nine-member management board is
pondering might reach until 2022, he said.
VW's existing roadmap, drawn up in 2007 when Chief Executive
Martin Winterkorn took office, lays out steps to become the
world's biggest car maker by 2018, by increasing annual sales to
10 million units that year.
The company, Europe's biggest car maker, increased global
deliveries 11.2 percent last year to a record 9.1 million
While ruling out that it will hit the 10-million goal as
soon as this year, Osterloh said the car maker "must consider
whether 2018 is still the appropriate standard."
New growth goals may also lead executives to tighten rules
on managers' pay at the German multi-brand automotive group,
said Osterloh, who is also deputy head of VW's supervisory
Compensation guidelines at VW drew public criticism after
CEO Winterkorn's pay doubled in 2011. The supervisory board is
mulling steps to limit future increases in executives
compensation and will take a decision on the matter at its next
meeting in late February, said Osterloh.
Winterkorn earned 17.5 million euros ($23.75 million) in
fixed salary, bonuses and profit incentives in 2011, compared
with 9.3 million euros a year earlier, making him the highest
paid chief executive among Germany's top 30 companies listed on
the DAX index.
"Winterkorn, with his salary, is being made the scapegoat
for this debate driven by envy," said Osterloh. "The management
board has come to the conclusion that this can't be fought out
over the long term."
($1 = 0.7370 euros)
(Editing by Anthony Barker)