Income Sechin and other members of the Board of “Rosneft” has grown by 1 billion rubles.

The aggregate income of the members of the Board of the oil company “Rosneft” in 2015, increased to 3.7 billion rubles, follows from published by the company of a quarterly report (.pdf). By the end of 2014 the aggregate revenue of the Board amounted to 2.8 billion rubles.

According to the report, salaries of members of the management Board amounted to 682 million rubles remuneration for participation in the work of the management body — 81,5 million rbl., the prize — more than 2 billion roubles Other remuneration amounted to 912 million roubles.

“Premiums include the amounts of annual bonuses by the end of 2014, one award according to the results of implementation of important projects and in the case of awarding state prizes of the Russian Federation for previous periods. Remuneration, bonuses or remuneration in another form to the members of the management Board for work in management bodies of subsidiaries of JSC “NK “Rosneft” not paid”, — stated in the report.

By results of work in 2014 the Board members of “Rosneft” has received more than 743 million rubles as a salary, the amount of premiums amounted to more than RUB 1.2 million other types of remuneration — 843 million rubles, expenses — RUR 1.2 mln Total income of the members of the management Board report for 2014 (.pdf) exceeded 2.7 billion rubles.

Thus, the increase of income of members of the management Board of the company primarily was due to premiums, which rose from 1.2 billion to 2 billion rubles At the present time in the management Board of Rosneft consists of 11 members. It is headed by the President of the company Igor Sechin.

In may 2015 estimated annual income of the President and Chairman of the Board of “Rosneft” Igor Sechin in the amount of 459 million to 612 million rubles, Then the company published the “Standard on payments and compensations to top-managers”. The document was approved by the Board of Directors of the oil company on 23 April and entered into force the next day. The salary of the President of “Rosneft” installed on 15-20 million rbl. a month. Thus, the annual salary of Igor Sechin is in the range of 180-240 million rbl. the Vice President of the oil company Mikhail Leontiev claimed that the salary of the first person “is much closer to the bottom edge”.

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In addition to salary, senior managers, members of the Board of Directors of Rosneft, need surcharge of 5% approved by the Board of Directors of the salary of the President. According to this rule Sechin may, in addition to the salary to get from 9 million to 12 million rubles per year.

The document stated also that “regulatory dimension” of the award to the President of “Rosneft” is set in the amount of 150% of his annual cash remuneration. The award, as explained also payable in case of implementation of individual and collective key performance indicators (KPIs), which are approved annually by the Board of Directors. If by the end of 2015 it considers the work of Sechin as President deserves the bonus, his or her income can increase by another 270-360 million rubles.

The main shareholder of Rosneft is fully state-owned OAO Rosneftegaz, which owns 69,50% of the company, 19,75% of shares belong to BP, one share belongs to the state represented by the Federal Agency for state property management, the remaining shares are in free float.

In terms of broad privatization, which is now discussing the government’s planned sale of a 19.5% stake in Rosneft. On 8 February, the capitalization of the company reached 2.85 trillion, and the share of 19.5% cost 555,75 billion rubles.