BusinessCompany NewsFinance chiefs to prosper after Imperial Energy pay overhaul

Finance chiefs to prosper after Imperial Energy pay overhaul

Oil explorer's new FD joins the company at the perfect time as the company announce improved pay framework

Two of Imperial Energy’s key finance figures are in line for a salary boost
after the group announced a new pay structure to reflect the company’s vault
into the FTSE 250.

Group FD John Hamilton, will now receive a base salary of £200,000 while
Russia-based Denis Kurochkin, the CFO of CIS operations will rake in 9,028,483
roubles (£196,000) after the shake-up.

Imperial also agreed to stump up £300,000 for Hamilton losing out on a bonus
opportunity at ABN on taking the FD job at the oil company.

Imperial Energy’s annual report said: ‘The [remuneration] committee has made
changes to the remuneration policy for 2008 in recognition that the company has
developed rapidly since its flotation in May 2004 and make it more relevant to
its status as a FTSE 250 company from November 2007.’

Hamilton, joined Imperial in December 2007 after 7 years in the oil and gas
team at ABN AMRO’s corporate and investment bank.

Kurochkin was appointed to the board in December 2006 and is a qualified
accountant who trained and spent the first eight years of his professional
career at PricewaterhouseCoopers in Russia.

Further reading:

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the lowdown on Imperial here

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