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Wednesday, August 23, 2017

The Central Bank was scared of social tension, if the top managers talk about their salaries

The Central Bank has stated its intention to consider mandatory disclosure by joint stock companies information about remuneration, who gets their top management. However, the regulator sees potential danger in this kind of openness.

photo: Gennady Cherkasov

As reported by “Vedomosti” on the one hand, the Central Bank considers that the disclosure will benefit investors who can adequately evaluate the investments of their money. In addition, Russia will rise in the ranking of Doing Business, and themselves state-owned companies will become more transparent.

Read about the “expensive” top-Manager of Russia.

However, finds of the Central Bank and significant disadvantages: in particular, the increasing “social tension” in that case, if citizens know exactly how much receive certain executives. In addition, against the disclosure of information are they also talking about the growing “criminal risks”.

Recall that during his tenure as head of Russian Railways Vladimir Yakunin said that will not disclose information about his salary, despite the demands of the state, as it might endanger his family.

At the moment the company is officially obliged to report only about how much money went to reward a particular control, no breakdown of this information for specific individuals.


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