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Rostelecom's New CEO Says No to Golden Parachute
27.05.2013 16:47
Rostelecom's New CEO Says No to Golden Parachute
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Rostelecom's new CEO left the golden parachute clause out of his contract after the former head had reportedly got more than 200 million, or $7 million, when he quit in March.

      The new president, Sergey Kalugin, previously worked at several banks, including Sberbank and VTB Capital. Iin 2001, he also co-founded National Cable Networks, which was later bought by Rostelecom.

      His decision coincided with a new drive launched by the Kremlin to put a limit on golden parachutes in state-controlled corporations to curb public anger.

      The national parliament is expected to pass new legislation that would stop state companies from splurging too much on this kind of bonuses. 

Author: Mikhail Vesely

Tags: Sergey Kalugin Sberbank VTB Capital Rostelecom  

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