Report on the payment of remuneration in 2018
Remuneration for the Chairman and members of the Board of Directors
Remuneration for the Chairman and members of the Management Board
The bonus portion of remuneration for 2018 was determined by the Company’s Board of Directors based on the achievement of target KPI values and Strategic Development Priorities. In 2017, the Chairman and certain members of the Board voluntarily declined a special bonus, which resulted in remuneration for the period amounting to less than it did for 2016 and 2018. For more on the extent to which KPIs were achieved, see the ‘Key Performance Indicators System’ section section.
In 2018, members of the Company’s Management Board received RUB 6,841,777.31 for participating in the management bodies of the Group’s companiesThe amounts are given after tax. When converting foreign currency into rubles, the exchange rate as of December 30, 2018 was used. These funds comprise the amount of remuneration for performing the functions of the sole executive bodies paid in accordance with the law. Members of the Management Board and other employees of the Company do not receive remuneration for participating in the work of the boards of directors (supervisory boards) of controlled entities..