Rosneft gives $63m-bonus to board members in 2016

Rosneft gives $63m-bonus to board members in 2016
Photo: A. Gordeev / Vedomosti

Meanwhile, the wages of the state-owned company’s top managers have been reduced by 16%.

The state oil company reported the 2016 income of its board members. It shows a 16%-lower salary of the management compared to the previous year, yet a 40% higher remuneration for attendance at board meetings.

The company's board is composed of 10 persons: Rosneft CEO Igor Sechin, the first vice-president, the vice-president and the chief financial officer. At the end of 2016, they received a total remuneration of 3.697 billion rubles (about $63m). Meanwhile, the remuneration has increased by 38.9% and reached 113.226 million rubles, and the wages decreased by 16.1% and amounted to 572.275 million rubles. The top managers got the same bonuses that they did in 2015, 2.006 billion rubles. In addition, Rosneft reported travel expenses of Board members that reached 1.005 billion rubles.

You may remember that the Forbes named Igor Sechin Russia’s second most expensive top-manager in 2015: his income was estimated to be $13 million, which was $4.5 million less than a year before that. Gazprom’s Chairman of the Board Alexey Miller got to the top of the ranking with $17.7 million he made in 2015.

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