The Vedomosti newspaper has calculated salaries for executives of major Russian state-owned companies to include remunerations for serving on the boards at the firms' subsidiaries, which gives them extra income.
Photo: Pavel Solov
|
 |
Russian Newspaper Calculates Pay for State-Run Firms’ CEOs
The Vedomosti newspaper has calculated salaries for executives of major Russian state-owned companies to include remunerations for serving on the boards at the firms' subsidiaries, which gives them extra income.
Russian Railways CEO Vladimir Yakunin earned 21 million rubles or $817,000, last year serving as chair of the board at Transcreditbank where the Russian railroad monopolist owns 75 percent. The pay is comparable with remunerations at Russian Railways where each member of the board makes an average 14.9 million rubles. The company does not disclose Mr. Yakunin’s salary but Vedomosti says it comes to 23 million rubles.
A lot of Gazprom top managers also make money on the BODs of their company’s subsidiaries. Seven out of nine directors of Gazprombank who earned some $23.3 million each last year occupy senior positions at Gazprom. Some part of the salary of Gazprom Chairman of the Management Committee Alexey Miller comes from his pay for serving as deputy chair of Gazprom’s board.
Managers at UES of Russia are not allowed to sit on more than five BODs at the company’s subsidiaries, Vedomosti notes. UES member of the board Andrey Trapeznikov says the ban was imposed several years ago. Anatoly Chubais, chair of UES’s Management Committee, also sits on the boards at FSK, HydroOGK and Sistemny Operator.
www.kommersant.com
|
|
|
