Wang Ye's appointment as Chairman of Yukos Group was directly decided at the board meeting.
None of the shareholder representatives had any objections. After the board meeting, an announcement would be sent out by the headquarters to all group employees to inform them of the change, and things would be settled.
There are no plans for any ceremony. After all, the group is facing a major crisis, and both Khodorkovsky and Wang Ye preferred a low profile.
However, as the new Chairman, it was necessary for the shareholder representatives to discuss and decide on the relevant salary package.
This was different from when Khodorkovsky was the Chairman.
To Wang Ye's knowledge, Khodorkovsky's salary was not high. It was only $2 million per annum. He was not even making as much as some of the group's Vice Presidents.
