Start with YourselfVTB’s top executives, led by Management Board Chairman Andrei Kostin, may have to pay the price for the bank’s share collapse. They are prepared to forgo their bonuses. And Kostin is also ready to give up payment for his service on Rosneft’s board of directors. This issue was discussed at a recent Rosneft board meeting as part of the company’s cost-cutting program, Titov says. He explains Kostin’s decision by citing “the current market situation, as well as respect for the position of Rosneft’s minority shareholders, expressed at the company’s annual general meeting.” Compensation for independent directors is the second most sensitive issue for Rosneft’s minority shareholders after dividends. Read more The decision is entirely symbolic, but the right one. You have to start somewhere. I look forward to seeing similar decisions at other corporations and among their top management as well.