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Rosneft won’t index remuneration of top management in 2016

March 25, 2016, 22:05 UTC+3 MOSCOW

The company will implement all the decisions that may be taken to encourage the key personnel

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© Anton Korotaev/TASS

MOSCOW, March 25. /TASS/. Russian state-owned company Rosneft won’t index remuneration of its top management in 2016, the company’s Vice President Mikhail Leontyev said.

"Yes, that's what I can say for sure, we will not index (remuneration). We would like to do this but after the crisis,"- he said.

According to Leontiev, some of the company’s top managers are foreign citizens, who are paid in foreign currency and lose income due to exchange rate differences.

"Conservative policy - is the minimum the company can do in order not to shake the stability of human resources," - the vice-president said.

Leontiev said that the salaries of employees of mining enterprises and others are adjusted, in accordance with labor contracts.

The company will implement all the decisions that may be taken to encourage the key personnel, he said.

"If certain political decisions have been taken we will implement them, of course," Leontiev said.

Earlier on Friday, Russian Prime Minister Dmitry Medvedev said that the size of bonuses paid to managers of state companies should directly depend on the profit performance.

The Prime Minister admitted that the government "understands" that now it has to save everywhere and on everything. According to him, "you need to go ahead and save even on the remuneration of management.".

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