Reborn Russia As An Oligarch

The matter of Wang Ye taking over as chairman of Yukos Group was decided directly on the board of directors.

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

There is no plan to hold any ceremony. After all, the group is facing a big difficulty now. Both Hovchenko and Wang Ye want to keep a low profile.

However, now that he has become the chairman, the corresponding remuneration package also needs to be discussed and determined by the shareholder representatives.

This is different from when Hovchenko was chairman.

As far as Wang Ye knows, Hovchenko's salary is not high, with an annual salary of only two million U.S. dollars, which is not as high as the annual salary of several group vice presidents.

Of course, it’s not that Hovchenko is “happy to give without asking for anything in return,” but because personal remuneration requires paying a lot of taxes. The higher the income, the higher the tax rate...

Super rich people like them basically earn low salaries and avoid high taxes through dividends, bonuses, etc.

In fact, the personal income tax here in Damao is not high, but it is divided into two brackets: 13% and 15%.

Those whose annual income is less than 5 million rubles shall pay 13%.

But save money if you can. For example, the money Hovchenko gets through dividends every year can even be as high as two to three billion U.S. dollars. It would be quite distressing to pay a 15% tax.

They will use various methods to reasonably avoid taxes.

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

Gang Leader Qiao, Dong Ge, Musk and others, with an annual salary of US$1. To be honest, it looks a bit ugly.

The reason why Hovchenko takes such a small salary is because he holds the largest share of Yukos shares. Especially before the emergence of Wang Ye, this company was almost equivalent to Hovchenko's private company, so it doesn't matter whether the salary is more or less. .

And those vice presidents and the like are all "high-level workers", so naturally they cannot be paid less.

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

The current Yukos Group's shares are relatively dispersed.

The largest shareholder, Wang Ye, only holds 35% of the shares.

The remaining shareholders range from five to twenty-five percent.

Then Wang Ye's salary can't just be "interesting", it must be "interesting enough"!

Besides, the Yukos Group is not going to be easy to deal with. It is estimated that troubles will come one after another. Wang Ye, the chairman, will have to bear a lot of risks.

Therefore, it was Hovchenko's personal proposal to offer Wang Ye an extremely high salary.

The annual basic salary alone is as high as $30 million!

If the group performs well and can achieve the business goals set by the board of directors, it can receive a bonus of up to US$100 million...

Hovchenko explained it this way.

“Yukos Group is now beginning to internationalize, and naturally all aspects must be in line with world-class large companies.

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

As far as I know, the annual salaries of presidents, or CEOs, of companies such as Shell, Exxon, and Mobil are quite high, starting with tens of millions.

Then we at Yukos cannot be worse than them.

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

He is simply trying to benefit his own nephew...

Other shareholder representatives also knew this, but they all acquiesced, because this salary was nothing compared to Yukos Group's huge annual profits.

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 Sibneft established an undisputed monopoly in one fell swoop.

Then he promoted Sino-Japanese-Russian oil and gas cooperation and secured a huge order for the group company, ensuring business for the next ten or even twenty years.

As for the minor difficulties we are currently facing, everyone is still relatively optimistic.

Besides, the basic salary is only 30 million U.S. dollars. Only by completing the annual business growth target can you get a bonus of up to 100 million U.S. dollars.

In this way, Wang Ye received an extremely high salary package as soon as he took over the position of chairman and president of Yukos Group.

Excluding equity dividends and salary bonuses alone, you can get up to $130 million per year!

…………

This time the board of directors, in addition to introducing several new shareholders and Wang Ye taking over as chairman, discussed export rights and the listing of the group.

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

That is what happened at yesterday's Economic Committee. He had already communicated these things to Hovchenko last night, but this was the first time other shareholder representatives knew about it.

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

"President Mikhail responded very well and bought our group enough time to respond. The procedures for group restructuring will be completed soon. Moreover, we will apply for listing in the United States with the help of BlackRock! This way! Once it comes, we may no longer be required to do other work, and the Department of Energy will cease to exist.”

Hovchenko praised.

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

Wang Ye also agreed very much.

There are actually pros and cons to going public. Many companies that really make money may not be willing to go public.

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

Because it's not necessary.

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 in order to increase the market value of the company so that some shareholders can cash out...

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

Besides, who doesn’t want to keep this kind of money tree 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 be dispersed, some foreign shareholders have been introduced, and the company will face some unknown risks.

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

You are a private company, so you can do whatever others 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 consideration.

Maybe there will be some "stupid young people" who will take you to the International Court of Justice. Even if you don't take it seriously, it won't look very good...