Industry News by Nemesis

ALROSA to Improve Incentive System

December 23, 2017

ALROSA will improve the incentive system for the company's workforce in the first half of 2018. This decision was taken by the Supervisory Board of ALROSA at its December 14 meeting. 

The goal of changes in the incentive system is to increase the company's investment attractiveness. A set of norms which motivate the company's personnel and management to raise shareholder value by achieving key efficiency parameters and production plans, is requirement of the company's shareholders. During the first half of 2018, ALROSA will develop proposals for the new incentive system for employees at all levels of the company and will submit it for discussion by the Supervisory Board. 

During the first stage of this work, the Supervisory Board approved a long-term incentive program for ALROSA's management, which will begin next year. The program linked to shareholder returns will involve members of the Management Board, heads of subsidiaries, divisions and other employees whose professional activities have a key impact on the company's operating and financial results. 

"ALROSA has a significant development potential which can be unlocked primarily by increasing its internal efficiency. By improving the incentive system, we will be able to increase the loyalty of employees, motivate them for team work and the long-term development of the company, which will contribute to solving ALROSA's strategic tasks, revealing its potential and increasing its capitalization", - said ALROSA President Sergei Ivanov. 


Source: Rough-Polished


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