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Main page Corporate governance Management board Remuneration of Management

Remuneration of Management

The basic principles of remuneration and payment of stimulating and other allowances to senior executives of the Company (Chief Executive Officer of Rosneft, First Vice Presidents, Vice Presidents and officers equivalent to the Vice Presidents of Rosneft) are outlined in the Rosneft Standard on Payments and Compensations to Top Managers which is posted on the official website of the Company.

The Standard establishes a procedure and terms of the senior executive stimulation system which includes the following:

  • Cash remuneration;
  • Social package;
  • Non-cash incentives.

Cash remuneration includes an official salary, additional payments related to performance of job duties, and incentives (bonus payments).

The structure of management remuneration (a correlation of fixed and variable components) is consistent with the common global practice.

The social package and non-cash incentive mechanisms are aimed at enhancing loyalty of senior executives and providing a motivation for their long-term efficient performance at the Company.