Detrimental bonuses. Russian Post CEO facing new charges

Detrimental bonuses. Russian Post CEO facing new charges
Dmitry Strashnov, Russian Post CEO

Authorities believe that Strashnov prepared a bonus plan just to be the one to violate it, causing damage to the enterprise.

The Prosecutor's Office prepared a file to initiate proceedings on a new criminal case regarding power abuse against Russian Post CEO Dmitry Strashnov. According to Kommersant, the new charges concern bonuses for Strashnov’s deputies for 2014 and 2015. The top-managers received a total of 270 million rubles ($4.6m). The prosecutors believe the bonuses the Russian Post CEO gave to his deputies were actually destructive to the enterprise. The supervisory agency noted that Strashnov approved the bonus plan in August 2014 before becoming the one to violate it later.

Dmitry Strashnov was appointed Head of Russian Post (Pochta Rossii) Federal State Unitary Enterprise in June 2013. The CEO reported a net profit of 1.25 billion rubles ($21.5m) and 2.57 billion rubles ($44.1m) for 2014 and 2015 respectively to the Ministry of Communications. Then he gave out the bonuses. Whereas the prosecutors pointed out that one must achieve 80% of outputs before giving out bonuses, which was not the case in many respects and some indexes were even reduced. The profit was only due to budgetary infusions, authorities say. In the period indicated, Russian Post received a total of 6.4 billion rubles ($110m) of targeted funding from the budget, and also took loans.

Earlier, the Prosecutor's Office had filed a lawsuit to initiate proceedings against Strashnov for giving bonuses in the amount of 95.4 million rubles ($1.5m) for the year 2014, as well as against two Communications Ministry directors, who had approved of the bonuses. The Prosecutor's Office considered him eligible to give out only 3 million rubles. However, the Investigative Committee has not yet announced the inspection results or initiated the case.

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