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Putin cancels some preferences for state enterprise CEOs, including golden parachutes

The document published on the official website of legal information in particular mentions compensations for early dismissal on a Russian government initiative

© Mikhail Metsel/TASS

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MOSCOW, December 15. /TASS/. Russian President Vladimir Putin has signed a decree to cancel the obligatory nature of a number of preferences for heads of federal state unitary enterprises during employment.

The document published on the official website of legal information in particular mentions compensations for early dismissal on a Russian government initiative.

The head of state made amendments to the presidential decree of 1994. He excluded from the document text the point that a number of conditions should mandatorily be mentioned in the labor contract with heads of federal state unitary enterprises.

The number of terms that earlier had to be mandatorily stipulated by such contracts include the length of employment as head of federal state unitary enterprise for not less than three years, the size of the guaranteed remuneration of at least 10 minimum monthly wages per day, the share of the enterprise head in its profit etc.

The president also canceled the decree’s provisions that related to representatives of the state in management bodies of companies with state participation and the necessity to coordinate their decisions with executive power bodies.

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