RusHydro takes bonuses as damages

RusHydro takes bonuses as damages
Evgeny Dod Photo: Mikhail Voskresensky / RIA Novosti

The company accused Evgeny Dod of giving bonuses to the Board of Directors in 2013.

The RusHydro’s CEO Nikolai Shulginov believed that his predecessor Evgeny Dod in 2013 paid a bonus of 72.3 million rubles on no grounds both to himself and 14 other people in the Board. Shulginov asked to recognize the RusHydro as a civil plaintiff in the criminal case of embezzlement and deems the premiums a theft of the company’s property. Thus, the amount of claims against the former company’s head has grown tenfold, up to 778.72 million rubles. Dod already repaid 72.3 million rubles of the damage he had inflicted.

According to Shulginov’s testimony, due to the accident at the Zagorsk PSP-2 there were no grounds for bonuses to the Board of Directors of the company in 2013. Sources told the Kommersant that initially Dod was even going to have no year bonuses whatsoever for himself or for the Board because of the accident, but then for some reason changed his mind.

According to RBC with reference to the company's quarterly report, in 2013 the total compensation, given to the Board of Directors, amounted to 612.26 million rubles, of which salaries were 111.9 million rubles and 500.3 million rubles were allocated for bonuses. The report stated that no additional agreements with the members of the Board concerning 2013 bonus payments were made.

The RusHydro spokesperson refused to comment Shulginov’s testimony or the amount of damage that exceeded the actual payments. Note that RusHydro leadership has shrunk from 14 to 5 people since 2013.

Denis Frolov from BMS Law Firm told RBC that the RusHydro could not claim the 2013 bonuses paid to the Board members even if the charges are upheld. The CEO remains fully responsible for what had happened, so if Dod is found guilty, he will have to reimburse the money.

In 2013, Dod signed an order, instructing to award a bonus to himself, having unduly inflated the size of the bonus. Initially, he was charged under part 4 of Art. 159 of the Criminal Code (Swindling on an especially large scale), but later the charge was changed to part 4 of Art. 160 of the Criminal Code (Misappropriation or Embezzlement committed on an especially large scale). The former RusHydro’s Head pleaded not guilty.

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