Board of Directors reviews implementation results of incentive bonus program for Gazprom’s management
The Board of Directors’ meeting has adjourned at the Gazprom Headquarters.
The Board of Directors took notice of the information on the implementation results of an incentive bonus program for Gazprom’s management.
In December 2006 the Board of Directors endorsed the Provision on the Annual Bonus System for Gazprom’s Top Managers and the Provision on the Remuneration of Gazprom’s Top Managers in Corporate Shares.
The incentive system for Gazprom’s management is mainly targeted at:
- meeting Gazprom’s business objectives set by its stockholders by attracting personal interest of each top manager in the Company’s success;
- employing and retaining top officials whose professionalism and business efficiency prove indispensable for the Company;
- achieving more rational structuring of personnel business schedules by activity directions in accordance with Gazprom’s strategic aspirations.
In 2007 the incentive bonus program for Gazprom’s management covered 389 top officials of the Company: 355 Administration managers, 29 subsidiary heads, five branch office heads.