24.11.2015, 23:51
Sberbank's Supervisory Board Holds Meeting
OREANDA-NEWS. Sberbank announces the results of the Supervisory Board meeting.
The Supervisory Board discussed the results of Sberbank's activities for the nine months of 2015 and its RAS financial results for the ten months of 2015, heard reports on Sberbank's innovations (in respect of retail and corporate businesses, as well as payment systems), approaches to selecting new members of Sberbank's Supervisory Board and the independent assessment of the Supervisory Board's activity in 2015.
In addition, the Supervisory Board was informed of the results of Sberbank's internal audits for the nine months of 2015 and approved the Annual Inspection Plan by the bank's Internal Audit Service for 2016.
The Supervisory Board approved the internal remuneration policy documents: 'Human resources remuneration policy and qualification criteria for key Sberbank's employees" and "Remuneration for labor policy of Sberbank". The Supervisory Board also decided to implement a long-term remuneration programme. Following the results of 2015, significant part of variable remuneration will be postponed for three years and will be paid out over this period by separate installments.
This revised pay scheme is aimed at the senior management of Sberbank and will be linked to the bank's share price. The new policy brings together the interests of the senior management and shareholders and corresponds to the best corporate governance practices.
The Supervisory Board discussed the results of Sberbank's activities for the nine months of 2015 and its RAS financial results for the ten months of 2015, heard reports on Sberbank's innovations (in respect of retail and corporate businesses, as well as payment systems), approaches to selecting new members of Sberbank's Supervisory Board and the independent assessment of the Supervisory Board's activity in 2015.
In addition, the Supervisory Board was informed of the results of Sberbank's internal audits for the nine months of 2015 and approved the Annual Inspection Plan by the bank's Internal Audit Service for 2016.
The Supervisory Board approved the internal remuneration policy documents: 'Human resources remuneration policy and qualification criteria for key Sberbank's employees" and "Remuneration for labor policy of Sberbank". The Supervisory Board also decided to implement a long-term remuneration programme. Following the results of 2015, significant part of variable remuneration will be postponed for three years and will be paid out over this period by separate installments.
This revised pay scheme is aimed at the senior management of Sberbank and will be linked to the bank's share price. The new policy brings together the interests of the senior management and shareholders and corresponds to the best corporate governance practices.
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