Sechin will earn up to 610 million rubles in Rosneft by the end of 2015

Rosneft has disclosed the principles of remuneration of its top executives, including the president. Basing on this data, RBC estimated that the total income of Igor Sechin in 2015, excluding dividends, may exceed 600 million rubles.
06.05.2015
RBC
Origin source
On Tuesday, "Rosneft" has published "standard payout and compensation of top managers." The document was approved by the Board of Directors of the oil company on 23 April and came into force the following day. According to it, the president of "Rosneft" salary is set at the level of 15-20 mln. per month. Thus, the annual salary of Igor Sechin is in the range of 180-240 million rubles. Vice President Mikhail Leontiev oil company claims that the salary of a first-person "is much closer to the bottom border."

In addition to salary, the top managers within the Board of Directors of "Rosneft", according to the document entitled surcharge of 5% of the company's Board of Directors approved the official salary of the President. This rule Sechin may additionally receive a salary from 9 to 12 million rubles. in year.

Finally, the president of "Rosneft" can qualify for the annual premium. "The normative dimension" this award is set at 150% of his annual remuneration, it follows from the document. The award is also due to be paid in the case of individual and collective performance of keyHALE (KPIs). KPIs themselves, their implementation and the size of annual bonuses are approved by the Board of Directors annually. If at the end of 2015 he finds a job as president Sechin deserving bonuses, management income may increase by another 270-360 million rubles.

Total only salary, bonuses and additional payment for work on the board in the amount can bring Igor Sechin at the end of 2015 from 459 to 612 million rubles.

And dividends

This amount does not include dividends on "Rosneft" shares owned by the head of the oil company. According to the list of affiliated persons of the state company, Sechin holds approximately 0.1273% of "Rosneft" shares (13,490,000 shares), it is - one of the largest minority shareholders of the company (the company previously disclosed, that Sechin bought the paper on their own and borrowed funds). "Rosneft" The Board of Directors recommended to pay before the end of 2014 for a dividend of 8.2 rubles. per share. If the shareholders' meeting to support the proposal Sechin can get to your package of about 110 million rubles.

If you take only a salary, it turns out that Sechin remuneration comparable to voznagrazhdeniem heads of state-owned banks. Thus, the president and CEO of VTB Andrey Kostin in December 2014 in an interview with German newspaper Handelsblatt said that in 2013 he received for his work 200 million rubles, and in 2014 -. 240 million rubles. (Details on remuneration of heads state-owned companies - see RBC story.)

Where else works Sechin

Igor Sechin chairs the Board of Directors "Inter RAO" in which "Rosneftegas" owns a minority stake in a joint research and development center "RN-CIR", Far Eastern Center of Shipbuilding and Ship Repair (75% owned by a consortium of Gazprombank and "Rosneft") and Council of the St. Petersburg international Commodity Exchange (10.5% - in "Rosneft"). He also serves on the boards of the two Italian companies advice - refiner Saras (the "Rosneft" - 21%) and Pirelli tire manufacturer ( "Rosneft" indirectly owns 13% of shares). Everywhere, where the share of the oil company is less than 50%, it can be rewarded, says the standard of benefits and compensation.

Comparison with Competitors

Head toupneyshey capitalization public oil and gas companies - the American of ExxonMobil - Rex Tillerson in 2014 was $ 2.87 million (150.44 million rubles. *) in the form of salary and $ 3.67 million as a cash prize - in the amount of approximately $ 6.5 million . half of the prize money ($ 1.84 million) has been retained as long as Exxon profit per share reaches a certain figure. Tillerson bonuses in the form of shares of the company was $ 21.4 million, but this is conditional rating: paper will be available for implementation until 2019. Total "realized" Tillerson reward - money and shares that he actually received during the year - in 2014 amounted to $ 18,250,000, or 956.6 million rubles.

The head of the British group BP's, for Strategic partner of "Rosneft", Bob Dudley in 2014 was $ 1.83 million (113.8 million rubles. **) In the form of wages and $ 1 million in annual cash prize plus a $ 114 thousand benefits -. Total $ 2.95 million of cash payments. The indicator fell by 30% compared with 2013 year. But the bulk of the total remuneration in Dudley, like other Western top managers, account for bonuses in the form of stock. Together with them, the head of BP compensation for noshly year amounted to $ 12.74 million (up 25%), or 792 million rubles.

According to the April study Equilar, 100 CEO Pay Study, the total remuneration of the "average» CEO from the first hundreds of US companies by revenue (median value) amounted to $ 14.3 million - this includes salary, cash bonus, bonuses in the form of shares and options and additional irregular remuneration .