CB advised public joint stock companies (PJSC) to provide in annual reports information about remuneration management. This was reported by “Kommersant”. Recommendation volume 24 page applies to both senior management and as members of boards of Directors. Most of the Central Bank is interested in the remuneration structure, the amount and conditions for receiving various bonuses. Thus the caveat that transparency in this issue is ideal for the future in a few years.
The Central Bank has asked the PSC to disclose complete information about bonuses, bonuses and “Golden parachutes”: who, what, how much and on what basis. In the annual report, which wants the Central Bank, shall contain information about the key principles of the policy benefits, approaches to the formation of fixed and variable components, as well as compensation (the so-called “Golden parachutes”). For clarity and availability of material is proposed to present it in the form of graphs. It is assumed that you will be accountable to the shareholders and investors, is not misleading them.
The Central Bank also was not spared and non-standard forms of remuneration, whether it is stocks, housing, car, benefits package or pay for other expenses. Moreover, the Central Bank has mentioned relatives of people from top management and is affiliated with the leadership.
Experts ambiguously and sometimes skeptical welcomed the initiative of the Central Bank. According to the independent Directors of the company, IDGC of Centre and IDGC of Center and Volga region Oleg Fedorov, the Russian market, unlike British or American, there is no General policy of remunerations. The volume of payments Executive staff of companies of similar capitalization from the same industry often differ in several times and can not be correlated with the financial performance of companies. At the same time, Fyodorov said, our companies are not yet ready for such deep revelation. “It will take years,” he said. According to Fyodorov, the recommendations will be as a guide to action small and medium-sized companies. Large, likely to move to such a disclosure only when it will be binding on them.
Director of Finance practice at the Moscow office of BCG Sergey Ishkov believes that detailed disclosure would give rise to even more questions to the companies: “Come to what all will collate compensation for difficult positions. Financial Director of a small Bank’s top 50, which is under the control of the balance of RUB 100 billion, for example, and chief financial officer of such organizations as Sberbank or VTB, where we are talking about trillions of virtually any. And where to compare directly, possible speculation from the “look, there’s a Bank “Opening” it like CFO earns, and Bank VTB CFO earns so much””.