25 Jun 2009 14:17

Lukoil keeps remuneration to board of directors at 2008 level

MOSCOW. June 25 (Interfax) - Shareholders in OJSC Lukoil decided at their AGM in Moscow to pay 4.47 million rubles in remuneration to each of the company's existing board members, an Interfax correspondent reported.

In addition to remuneration, Valery Grayfer will receive 1.04 million rubles for carrying out the function of board chairman. Richard Matzke will receive 520,000 rubles for heading the committee for strategy and investment, Sergey Mikhailov - 520,000 rubles for chairing the audit committee and Alexander Shokhin - 520,000 rubles for chairing the HR and compensation committee. In light of the death of board member Oleg Kutafin in December of last year, remuneration will be paid to his widow Natalia Kutafina, which will come to 1.996 million rubles based on the real time of his activities. Each of the three members of the audit commission will receive 2.6 million rubles.

In addition, the company's shareholders approved maintaining the level of remuneration for the board of director and audit commission set at the 2008 AGM. This comes to 4.47 million rubles and 2.6 million rubles to each board and commission member, respectively.

CJSC KPMG was again confirmed as Lukoil's auditor.