Ignatyev against "excessively generous" option program for Sberbank management
MOSCOW. June 1 (Interfax) - Top Russian bank Sberbank's option program, which has already been under discussion for less than a year, will probably not be launched in the near future, as the main shareholder in the bank, the Central Bank of Russia, does not support the management's proposals, said CBR Chairman Sergei Ignatyev at a press conference on Friday.
"I'm not against this program but I have an idea about how it should be and it differs from the position of the management," Ignatyev said.
"I don't believe that it [the option program] should be too generous," he said.
Ignatyev added that Sberbank top-managers' after-tax earnings are at the level of those received by the heads of top international banks.
"Therefore, a significant bonus isn't needed," Ignatyev said.