Biz Briefs: VW's Winterkorn expects pay cut

Biz Briefs: VW's Winterkorn expects pay cut

February 9th, 2013 by Staff Reports in Business Around the Region

Martin Winterkorn is CEO of the Volkswagen group.

Martin Winterkorn is CEO of the Volkswagen group.

Photo by Associated Press /Times Free Press.

VW's Winterkorn expects pay cut

Volkswagen AG chief Martin Winterkorn, the highest-paid top manager among Germany's biggest companies, expects to earn less as the carmaker considers limiting compensation packages, according to Businessweek.

Compensation amounting to $27 million would be difficult to explain, and it would be understandable for the supervisory board to change terms of executives' pay, Der Spiegel magazine cited Winterkorn as saying an interview.

Winterkorn earned $23 million in 2011, the most of any CEO of companies on Germany's benchmark DAX Index. The IG Metall labor union called in March for limits on top managers' pay packages.

Chattanooga allergists among "Bulldog 100"

Marc Cromie and Todd Levin of the Chattanooga Allergy Clinic were recently awarded the Bulldog 100 Award for operating one of the fastest growing businesses by graduates of the University of Georgia at Athens.

Out of thousands of applicants, the Chattanooga Allergy Clinic finished No. 18. Founded in 1975, Chattanooga Allergy Clinic added Dr. Cromie in 2000 and Dr. Levin in 2006. The practice now has four physcians, four nurse practioners and five locations. Over the past six years, Chattanooga Allergy Cinic has added 30 employees and has been voted the best Allergist for the past four years in the Times Free Press annual Best of the Best competition.