Bloomberg News

Gazprom Links Executive Bonuses to Cost Cutting, Vedomosti Says

March 27, 2012

OAO Gazprom (GAZP), Russia’s state-run gas export monopoly, will link year-end bonuses for executives to how efficiently they reduce costs, Vedomosti reported.

The changes will take effect starting this year and also apply to Gazprom subsidiaries, the Moscow-based newspaper reported, citing documents from a March 5 board meeting.

Gazprom decided to shift its executive compensation policy after President Dmitry Medvedev ordered state companies to curb spending, Vedomosti said.

To contact the reporter on this story: Scott Rose in Moscow at rrose10@bloomberg.net

To contact the editor responsible for this story: Scott Rose at rrose10@bloomberg.net


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