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« June, 2016
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Main page Corporate governance Board of Directors Committees of Board of Directors Activity of HR and Remuneration Committee
Activity of HR and Remuneration Committee

Actions by the Committee were based on approved six-month plans and the Committee held nine meetings.

The Committee prepared recommendations to the Board of Directors for the decisions on the following issues:

  • approval of performance indicators for senior managers of Rosneft in 2012;
  • achievement of performance targets by senior managers of Rosneft and amounts of their annual remuneration for 2011;
  • approval of individual performance indicators of CEOs and collective indicators for key companies in the Group for 2012;
  • defining the Company position in setting of annual bonuses for CEOs of key companies in the Group;
  • approving the Regulation on the Rosneft Council for Business Ethics;
  • reviewing the Company’s sustainability report for 2011.

The Committee also reviewed the early termination of authorities of the Company President and appointment of a new President and members of the Company’s Management Board.

The Chairman of the HR and Remuneration Committee met regularly with senior Company managers and the head of the HR Department as part of work for creation of a new organizational structure, and as part of joint design of an annual incentive system for Company personnel, based on performance indicators. Use of the new system will enable greater objectivity in assessing levels of achievement.