Reborn Russia as an oligarch

Chapter 646 Super High Salary
The matter of Wang Ye taking over as the chairman of Yukos Group was directly decided on the board of directors.

All shareholder representatives have no objections. After the board meeting is over, the headquarters will issue a document to notify all employees of the group, and the matter will be over.

No ceremony was planned. After all, the group is now facing a major crisis. Both Hovchenko and Wang Ye want to keep a low profile.

However, since he became the chairman of the board, the corresponding remuneration needs to be discussed and determined by the shareholder representatives.

This is not the same as when Khovchenko was chairman.

As far as Wang Ye knows, Hovchenko's salary is not high, only 200 million US dollars in annual salary, which is not as high as the annual salary of several group vice presidents.

Of course, it’s not that Hovchenko is “willing to contribute without asking for anything in return”, but because personal compensation needs to pay a lot of taxes, and the higher the income, the higher the tax rate...

The super rich like them basically hold low salaries, and then avoid high taxes through dividends and bonuses.

In fact, the personal income tax here in Da Mao is not high, it is only divided into two levels of 13% and 15%.

If the annual income is less than 500 million rubles, it shall be paid at 13%.

But if you can save, you can save. For example, the money that Hovchenko gets through dividends every year can even be as high as 30 billion dollars. It would be very distressing to pay 15% tax.

They will use various methods to carry out reasonable tax avoidance.

Hovchenko's annual salary of 200 million dollars is still reasonable.

Like gang leader Qiao, Brother Dong, and Musk, they have an annual salary of US$[-]. To be honest, the food looks a bit ugly.

The reason why Hovchenko gets such a small salary is also because he holds the most shares in Yukos, especially before the emergence of Wang Ye, this company is almost equal to Hovchenko's private company, so it doesn't matter if the salary is more or less .

And those vice presidents and the like belong to the "senior wage earners", so it is impossible to pay less salary.

But now that Wang Ye has taken over as the chairman, the situation is different from before.

In the current Yukos Group, the shares are relatively dispersed.

The largest shareholder, that is, Wang Ye, only holds 30.00% of Wu's shares.

The remaining shareholders range from 5.00% to 20.00%.

Then Wang Ye's salary can't just be "meaningful", it must be "meaningful enough"!
Besides, the future of Yukos Group will not be easy. It is estimated that troubles will come one after another, and the chairman Wang Ye will have to bear a lot of risks.

Therefore, it was proposed by Hovchenko himself to offer Wang Ye a super high salary.

The annual basic salary alone is as high as 3000 million US dollars!

If the group is profitable and can achieve the business goals set by the board of directors, it can get a bonus of up to [-] million dollars...

Hovchenko explained it this way.

"Now that Yukos Group is starting to internationalize, it will naturally be in line with world-class large companies in all aspects.

First of all, the salaries of our chairman and president should at least be above the industry average.

As far as I know, the annual salaries of the presidents or CEOs of companies like Shell, Exxon, Mobil, etc. are quite high, usually starting at tens of millions.

Then our Yukos can't be worse than them.

Besides, I believe Mikhail's ability is worthy of this salary. "

He is simply trying to gain benefits for his own nephew...

Representatives of other shareholders are also aware of this, but they all acquiesce, because this salary is nothing compared to the huge annual profits of Yukos Group.

And everyone has reason to believe that under the leadership of Mikhail, Yukos Group will definitely achieve better results.

After all, the experience of the past year has confirmed this.

The Yukos Group's ability to dominate the Russian oil industry is absolutely inseparable from Mikhail's efforts.

The acquisition of Siberia Petroleum Company established an undisputed monopoly position in one fell swoop.

Then it promoted the oil and gas cooperation between China, Japan and Russia, and won a super large order for the group company, which guaranteed the business for the next ten or even 20 years.

As for the little difficulties we are currently facing, everyone is quite optimistic.

Besides, the basic salary is only 3000 million US dollars. Only when the annual business growth target is completed, can you get a bonus of up to [-] million US dollars.

In this way, just after taking over the chairmanship and president of Yukos Group, Wang Ye received a super high salary.

Excluding equity dividends, just salary and bonuses, you can get up to [-] million dollars a year!

…………

In this board meeting, apart from introducing several new shareholders and Wang Ye taking over the position of chairman, it is also about discussing the issue of export rights and the listing of the group.

Wang Ye first introduced the latest situation to the shareholder representatives.

That is what happened at the economic committee yesterday. He had communicated these things with Hovchenko last night, but it was the first time that other shareholder representatives knew about them.

After listening to Wang Ye's introduction, everyone had different thoughts.

"President Mikhail responded very well, bought enough time for our group to respond, and the group's restructuring procedures will be completed soon. Moreover, with the help of BlackRock, we will apply for listing in the United States! In this way Once it comes, we may no longer need us to do other work, and the Department of Energy will die down."

Hovchenko exclaimed.

He had communicated with Wang Ye last night about going public in the United States.

Wang Ye is also in favor of it.

Going public actually has advantages and disadvantages. Many companies that really make money may not be willing to go public.

The former Yukos Group has already become a giant oil company, but has been reluctant to go public.

Because there is no need.

The purpose of many companies going public is to raise funds so that the company can develop by leaps and bounds faster.

There are also some companies that go public to let the company's market value skyrocket, so that some shareholders can cash out...

Yukos Group is not short of money and does not need to cash out to leave the market. Naturally, there is no reason to go public.

Besides, who doesn't want to hold this kind of cash cow firmly in their own hands, so why do they have to go public and share the money with others?

But now the situation has changed, the shares have begun to disperse, some foreign shareholders have been introduced, and the company will face some unknown risks.

Then going public can increase the company's ability to resist risks.

You are a private company, you can do whatever other people want, without worrying too much.

But what about a large public company?

Moreover, it is a company listed abroad, so when others want to deal with you, they will have more scruples.

The influence of international public opinion must also be taken into account.

At that time, maybe there will be some "stupid youths" who will sue you to the international court. Even if you don't take it seriously, it won't be too good-looking, isn't it...

(End of this chapter)