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Forbes puts Rosneft’s Sechin on top of Russia's highest-paid top managers list

November 21, 2013, 12:18 UTC+3 21
Having gained $50 million during the year, Sechin outperformed VTB board chairman Andrey Kostin ($35 million) and Gazprom’s chief executive Alexei Miller ($25 million)
1 pages in this article
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Rosneft’s President Igor Sechin, $50 million
Rosneft’s President Igor Sechin, $50 million
Rosneft’s President Igor Sechin, $50 million
© ITAR-TASS/Mitya Aleshkovsky
VTB board chairman Andrey Kostin, $35 million
VTB board chairman Andrey Kostin, $35 million
VTB board chairman Andrey Kostin, $35 million
© ITAR-TASS/Mikhail Metsel
Gazprom CEO Alexei Miller, $25 million
Gazprom CEO Alexei Miller, $25 million
Gazprom CEO Alexei Miller, $25 million
© ITAR-TASS/Valery Sharifulin
Gazprombank CEO Andrei Akimov, $15 million
Gazprombank CEO Andrei Akimov, $15 million
Gazprombank CEO Andrei Akimov, $15 million
© ITAR-TASS/Valery Sharifulin
Sberbank President German Gref, $15 million
Sberbank President German Gref, $15 million
Sberbank President German Gref, $15 million
© ITAR-TASS/Sergei Bobylev
Bank of Moscow board chairman Mikhail Kuzovlev, $15 million
Bank of Moscow board chairman Mikhail Kuzovlev, $15 million
Bank of Moscow board chairman Mikhail Kuzovlev, $15 million
© ITAR-TASS/Artyom Korotaev
ONEXIM Group CEO Dmitry Razumov, $15 million
ONEXIM Group CEO Dmitry Razumov, $15 million
ONEXIM Group CEO Dmitry Razumov, $15 million
© ITAR-TASS/Mitya Aleshkovsky
USM Advisors CEO Ivan Streshinsky, $15 million
USM Advisors CEO Ivan Streshinsky, $15 million
USM Advisors CEO Ivan Streshinsky, $15 million
© usm-group.com
RZD CEO Vladimir Yakunin, $15 million
RZD CEO Vladimir Yakunin, $15 million
RZD CEO Vladimir Yakunin, $15 million
© ITAR-TASS/Yuri Smityuk
VTB 24 board chairman Mikhail Zadornov, $12 million
VTB 24 board chairman Mikhail Zadornov, $12 million
VTB 24 board chairman Mikhail Zadornov, $12 million
© ITAR-TASS/Vladimir Astapkovich
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Rosneft’s President Igor Sechin, $50 million
© ITAR-TASS/Mitya Aleshkovsky
VTB board chairman Andrey Kostin, $35 million
© ITAR-TASS/Mikhail Metsel
Gazprom CEO Alexei Miller, $25 million
© ITAR-TASS/Valery Sharifulin
Gazprombank CEO Andrei Akimov, $15 million
© ITAR-TASS/Valery Sharifulin
Sberbank President German Gref, $15 million
© ITAR-TASS/Sergei Bobylev
Bank of Moscow board chairman Mikhail Kuzovlev, $15 million
© ITAR-TASS/Artyom Korotaev
ONEXIM Group CEO Dmitry Razumov, $15 million
© ITAR-TASS/Mitya Aleshkovsky
USM Advisors CEO Ivan Streshinsky, $15 million
© usm-group.com
RZD CEO Vladimir Yakunin, $15 million
© ITAR-TASS/Yuri Smityuk
VTB 24 board chairman Mikhail Zadornov, $12 million
© ITAR-TASS/Vladimir Astapkovich

MOSCOW, November 21. /ITAR-TASS/. Russian oil giant Rosneft’s President Igor Sechin topped Forbes magazine’s rating of Russia’s 25 highest-paid top managers.

Having gained $50 million during the year, Sechin outperformed VTB board chairman Andrey Kostin ($35 million) and Gazprom’s chief executive Alexei Miller ($25 million).

The aggregate income of 25 highest-paid top managers has increased by a third in the reporting period to $325 million, yielding an average income of $13 million.

Among the first ten managers are chairmen of the boards in Gazprombank, Sberbank and Bank of Moscow — Andrei Akimov, German Gref and Mikhail Kuzovlev, chief executive of ONEXIM Group Dmitry Razumov, chief executive of USM Advisors Ivan Streshinsky and President of the Russian Railways (RZD) Vladimir Yakunin. Aggregate earnings of top managers ranking from third to ninth place totaled $15 million per year. The last line in the Top 10 is occupied by the chairman of the Bank VTB 24's board Mikhail Zadornov ($12 million).

Like a year before, managers from the public sector are on top of the rating, Forbes says. A year earlier state companies paid their managers much more than private enterprises, and the gap has yet increased. Last year the list included 11 state companies’ managers with a total income of $147 million, while this year there are 13 of them with an aggregate income of $226 million. Meanwhile, total compensation for the private sector’s chief executives remained almost unchanged — $97 million against $99 million last year.

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