Lawmakers are considering the possibility of reducing salaries for top-level executives of state-run companies and state corporations. They propose imposing a limit on the annual remuneration at RUR 30 mio ($436K).
The government is discussing the possibility of cutting top manager salaries. In particular, there has been a proposal that state company executives should not make more than three salaries of Prime Minister Mikhail Mishustin.
There may be exceptions for some managers although they can be made at the exclusive discretion of the President.
The government also plans to introduce performance indicators for top managers. For example, for the top executives of commercial state corporations where Russia is not the sole shareholder, the company’s revenue growth and market value will be the key performance indicator.
Companies do not disclose their top managers’ income; therefore, it is impossible to assess how much they may lose, Kommersant reports. However, their salaries are clearly beyond RUR 30 mio per year. For example, last year Rosneft allocated RUR 3.57 bln ($51.8 mio) for payments to its management board.