The Rosneft board has recommended company shareholders to approve independent directors’ remuneration with company stock, the firm reports.
It was at its annual meeting of June 19, 2009 that Rosneft shareholders first approved this way of remunerating the firm’s independent directors for their 2008 work, unlike prior years’ practice. Rosneft then gave its three independent directors, namely, Andrei Kostin, Alexander Nekipelov and Hans-Joerg Rudloff, 100,842 common shares, 33,614 shares each.
VTB Bank president Andrei Kostin and a vice-president of Russia’s Academy of Sciences, Alexander Nekipelov, are now Rosneft shareholders with an aggregate ownership of 0.0003%.
Barclays Capital’s Hans-Joerg Rudloff currently holds 733,614 company shares, or 0.0069% of Rosneft’s authorized capital.
In remuneration for 2007 work Andrei Kostin reportedly received $200,000; Alexander Nekipelov got $185,000; and Hans-Joerg Rudloff’s reward was $200,000.
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