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16 OGK-2 Execs Quit For Payout.
(From The Moscow Times)
Sixteen senior managers at power generator OGK-2 have quit en masse to collect a combined payoff of $23 million in a step that has enraged its owners, Gazprom and Unified Energy System.
The managers resigned after the company's board on May 27 approved the resignation of its general director, Mikhail Kuzichyov, Gazprom and UES said in a joint statement late Tuesday.
The managers are now eligible for compensation packages totaling 557 million rubles ($23.4 million).
The board installed the company's executive director, Stanislav Neveinitsyn, as the new general director.
In their statement, Gazprom and UES condemned the managers' actions, which they said had "not been coordinated with the shareholders."
The managers had caused "significant financial and image risks" to the company and could hurt its credit rating, investment program and secondary share sale, the statement said.
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