The Remuneration System for Members of the Executive Board of Russian Railways
The remuneration system for members of the Executive Board of Russian Railways was approved by the Board of Directors. It is designed for the purpose of increasing the individual and collective working efficiency of the members of the Executive Board both in the short-term and long-term, as well as encouraging the actual successful performance results of JSC Russian Railways as a single economic entity.
Bonus payments to executives based on their work results for the year are approved on the basis of the results of fulfillment of key performance indicators (KPI), evaluating the performance of the Board and Russian Railways in general.
The key performance indicators system was approved by the Board of Directors of Russian Railways and consists of:
- General corporate indicators;
- Functional indicators;
- Individual tasks.
In 2014 the company will continue work on improving the motivation system of the Board of Directors members.
The level of total income received by the members of the Board of Directors of Russian Railways in the reporting year according to the results of company’s activity during 2013 was 1,744.6 million RUB.