Deripaska waives £2m bonus to fund a staff share incentive plan

Suzie Neuwirth
OLEG Deripaska, the billionaire co-owner of aluminium miner Rusal, yesterday announced that he would forego his $3m (£2m) annual bonus to fund an employees’ share incentive scheme.

The one-off programme will reward employees who have achieved exceptional results in implementing the company’s production system, 120 of whom will have the opportunity to purchase shares by 20 July.

The Jersey-incorporated firm said that the number of shares will not exceed 0.05 per cent of the company’s equity.

Hong Kong-listed Rusal announced last month that it plans to list its shares in Moscow “in order to improve liquidity and to improve the investor base for the company’s shares”. Rusal closed 3.8 per cent down at HK$3.01.