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Top 3 Golden Parachutes In Russia
May 31, 2013 21:24


1. Vladimir Strzhalkovsky got a $100 million bonus after the board of directors terminated the contract with former CEO of Norilsk Nickel on December 17, 2012.

His dismissal was said to be part of the deal between two rival majority shareholders whose conflict had had a detrimental effect on the image and stock prices of the world's biggest nickel producer.

UC Rusal's Oleg Deripaska claimed Strzhalkovsky had no experience in the mining industry. Interros's Vladimir Potanin removed his protege and took up the job himself.

Ironically, following the news of the giant golden parachute, Norilsk Nickel requested the government to lower export duties to increase revenue.

 

2. Alexander Rodnyansky wrestled $25.9 million from CTC Media, a TV network he turned into one of the country’s largest commercial media corporations and led it to a successful IPO on NASDAQ (CTCM) in 2006.

In 2009, he stepped down as chairman of the board of directors in exchange for the hefty compensation.

3. Denis Morozov and Kuzma Marchuk got RUR 220 million and RUR80 million respectively for leaving Uralkali, a major fertilizer producer, in 2010.

Both had to quit after former shareholder Dmitry Rybolovlev sold his 53 percent stake to Suleiman Kerimov and his partners.

You can have a look at him and l listen to his opinion on the future of Russia's economy below at 25.20.




Author: Mikhail Vesely

Tags: Norilsk Nickel Uralkali Rostelecom CTC Media  

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