Media Shed Light on Salaries of Russian State Companies CEOs

Media Shed Light on Salaries of Russian State Companies CEOs

Photo: http://kapital-rus.ru

Alexey Miller, the Deputy Chairman of the Board and the Chairman of the Management Committee of Gazprom, Russia's largest energy company and the world's biggest public energy supplier, has become the leader of this rating. Notably, in 2018, he earned 1.9 bln rubles ($25.7 mln.) To put it simply, it is about 158 mln rubles ($2.14 mln) per month, or about 5.2 mln rubles ($70,330) per day.

It has long been known that the top executives of Russian state companies are not only wealthy but also very powerful people. In some cases, their status is estimated even higher than that of some federal ministers. However, if one knows what "skyrocketing" salaries are paid to the heads of Gazprom, Sberbank and other major companies with state capital, it can be assumed that to some extent, they must have even more influence than Vladimir Putin.

The Baza media outlet published information on the salaries of the top managers of state companies for 2018 with reference to its own source. It claims that is has "the access to the Federal Tax Service databases with detailed information on full names, date of birth, tax identification number, passport data, places of work, and official income.” Moreover, the authors of the publication underline that there is no reason to doubt the reliability of this data especially since it was additionally tested on Baza's own employees, as well as several members of the Council of Federation and the State Duma who have publicly reported their incomes for the same period. The fact that the revenues of this kind do not correlate in any way with the decrease in profits of the companies makes the data especially interesting. It should be said that the shortfall of profits has been declared by the above-mentioned organizations in the last few years.

Alexey Miller, the Deputy Chairman of the Board of Directors and the Chairman of the Management Committee of Russian energy company Gazprom, Russia's largest company and the world's biggest public energy supplier, has become the leader of this rating. Notably, in 2018, he earned 1.9 bln rubles ($25.7 mln.) To put it simply, it is about 158 mln rubles ($2.14 mln) per month, or about 5.2 mln rubles ($70,330) per day. Taking a regular eight-hour work day as a basis, the authors of the article say that it turns out that Miller is earning about 660,000 rubles ($8,926.50) per hour and for one minute his bank account is replenished by 11,000 rubles ($148.78.) Reporters compare these figures with the salaries offered by one of Gazprom's branches in Ufa. An electrician at Gazprom Transgaz Ufa is paid 20,000 rubles ($270.50) per month. It is a little less than Miller earns for two minutes of work.

In 2018, Herman Gref, Sberbank’s CEO, earned just over 1 bln rubles ($13.5 mln.) In the same year, Aeroflot’s CEO Vitaly Saveliev got "only" 376 mln rubles ($5,09 mln) while Transneft’s CEO Nikolai Tokarev received 222.5 mln rubles ($3.01 mln) of income. However, the article says that, back in 2014, Tokarev officially posted 172 mln rubles ($2.333 mln) as an annual income in his declaration which is very similar to his annual salary in 2020.

Only 39 mln rubles ($527,475) have been declared as income of Nikolai Podguzov, a former head of the Russian Post national postal service operator, in the year of 2020. Reporters draw attention to the fact that back in 2017, Podguzov had purchased a 386 m² apartment in the Knightsbridge Private Park residential complex. It was estimated at about 1 bln rubles ($13.53 mln.)

Noticeably, reporters could not obtain data on the income of Igor Sechin, the head of Rosneft, Andrey Kostin, VTB bank’s President, and Sergey Chemezov, Rostec technology corporation CEO.

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