Compensation of SOCAR key management personnel increases AZN 182,000

Compensation of SOCAR key management personnel increases AZN 182,000
# 07 July 2017 10:42 (UTC +04:00)

Key management of the SOCAR Group includes the President of SOCAR and its twelve Vice-Presidents.

 

According to the consolidated report on SOCAR financial activities in 2016, all of the Group’s key management are appointed by the President of the Azerbaijan Republic. Key management individuals are entitled to salaries and benefits of SOCAR in accordance with the approved payroll matrix as well as to compensation for serving as members of the Boards of directors for certain Group companies. During 2016 compensation of key management personnel totalled to AZN 0.717 million (2015: AZN 0.535 million).

 

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THE OPERATION IS BEING PERFORMED