Alexey Miller topped the list of the most expensive top-managers of Russia according to Forbes

MOSCOW, November 19. Chairman of the Board “Gazprom” Alexey Miller for the first time topped the list of highest-paid top managers of Russia according to Forbes magazine. The corresponding annual ranking, which included 25 people, published on the newspaper’s website.

According to Forbеs, during the year the remuneration of the Chairman of the Board “Gazprom” Alexey Miller has grown from $25 million to $27 million While the profit of the company in rouble terms decreased by 7 times, and in dollar – 9 times, the newspaper notes.

“The former leader of the list, the President, the Chairman of the Board of Bank VTB Andrey Kostin has moved into second place with $21 million of VTB in 2014 sharply reduced payments to top-managers (from $276 million to $152,8 million)”, – reports the edition.

Closes the three highest-paid top managers, the head of “Rosneft” Igor Sechin. According to Forbes, his fortune has decreased compared to last year and amounted to $17 million.

On the fourth place ranking, the General Director of “Group ONEKSIM” Dmitry Razumov, his reward was $15 million followed by the General Director of USM Advisors Ivan Streshinsky ($15 million).

Also the top ten includes: the President, the Chairman of the Board of Sberbank German Gref ($13.5 million), the President of AFK “Sistema” Mikhail Shamolin ($11.6 million), the Chairman of the Board, General Director of JSC “Discovery holding” Ruben Aganbegyan ($11 million).

Ninth place is taken by the ex-President of JSC “Russian Railways” Vladimir Yakunin with the amount of compensation of $11 million.

Closes the top ten most expensive top-managers of the former President, Chairman of the Board of the Bank of Moscow Mikhail Kuzovlev ($9.5 million).

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“The rating methods of the remuneration of CEOs has remained the same – we have limited the number of potential participants 70 largest by revenue for the year of 2014 enterprises, removal of state corporations and companies controlled by the owners (LUKOIL, Severstal, Norilsk Nickel, NOVATEK, etc.). Assessment of compensation in most cases calculated on the basis of total compensation paid to key management in 2014. This amount is considered a bonus for 2013 paid in 2014, and is not considered a bonus for the year of 2014 that most companies were paid in the spring of 2015. For conversion was used the average rate for 2014 was 38.6 rubles per dollar. The result was agreed with a number of experts in the field of recruitment and senior management and other knowledgeable sources and rounded with a step of $0.5 million, a Final evaluation takes into account short-term remuneration (salary, bonuses and other payments), long-term remuneration (payment shares payments based on shares), the remuneration received from participation in the boards of Directors of subsidiaries and the compensation paid abroad,” explains Forbes.

According to Forbes, the 25 highest paid executives of the largest Russian companies in 2014, was paid a total of $242 million, 17% lower than a year earlier ($291 million).