The Kremlin for the first time in years, cut exorbitant salaries of management of “Gazprom”

Russian “Gazprom” for the first time in many years has reduced the remuneration of the Board members of the company. By the end of 2016 the total amount of payments to the Board decreased 9.4% to 2,448 billion rubles (about a billion hryvnia), follows from the company report, write “Vedomosti”.

The income of the Board of Directors of “Gazprom” in 2016 fell 8.8% to 321,6 mln (UAH 150 million).

In this case, from 2013 to 2016 the salaries of the members of the Board “Gazprom” has increased by half. Premiums have increased by more than 64%.

The Board of “Gazprom” consists of 17 people, including the head of the company Alexey Miller. As calculated “gazety” the average income of each member of the Board of “Gazprom” for last year amounted to about 144 million rubles (67 million), or about 12 million rubles (5.5 million UAH) per month.

The representative of “Gazprom” have not explained what has caused the reduction of payments. However, experts have previously warned that the growth of payments to top management in the reduction of key financial indicators “Gazprom” can have a negative impact on the image of the company.

“Income management “Gazprom” is quite widely covered in the press, – said the head of East European Gas Analysis Michael Korchemkin. – Payout increase on the background of statements of the government of the Russian Federation about the lack of money for other citizens would be inappropriate. The President (Vladimir Putin – Ed.) did not want to irritate voters before the election.”

The partner of company RusEnergy Michael Krutikhin also notes that the growth of payments to the Board of “Gazprom” looked scandalous, especially with the decline of the company’s performance and financial losses.

“The role played by the numerous criticism, – the expert believes. – The decision on reduction of payments, most likely, was not taken by the Board of Directors of “Gazprom” and not by the shareholders. It obviously was lowered from the Kremlin do not exclude that this decision Vladimir Putin personally”.