Putin Urges Top Managers to Disclose Their Incomes - Putin

Russian state-run companies do not to publish their top managers' incomes as they cannot reveal the incomes of their foreign executive directors.

MOSCOW (Sputnik) – The Russian Cabinet of Ministers’ decision not to publish the incomes of top managers in state companies took place because foreigners hold some of the key positions, Russian President Vladimir Putin said Thursday.

“I think that the government’s decision is tied to the fact that there are several foreign specialists and citizens of foreign countries in the boards of directors and management bodies of our Russian companies…We cannot make them reveal their incomes and we cannot put our citizens and foreigners on unequal terms, that would be incorrect,” Putin said during a Q&A session in Moscow.

I strongly recommend that heads of major state companies disclose their income #Putin #DirectLine pic.twitter.com/pntPUpQWxa

— President of Russia (@KremlinRussia_E) 16 апреля 2015

The Russian leader strongly recommended that top managers reveal data on their incomes voluntarily.

"In most Western economies the top managers of large companies do it on their own initiative… If you ask my opinion, I would strongly recommend the heads of our [Russian] companies to make their incomes public."

On Wednesday, the Kremlin disclosed the data on the incomes of the president and several members of his staff.

According to the annual income statement published on the Kremlin's website, Putin's income in 2014 amounted to 7.654 million Russian rubles (approximately $151,000 at the current exchange rate), while the income of a number of his subordinates was substantially higher.