Outrage over invasion of Ukraine leaves executives under pressure to resign and governance mechanisms in shredsThe Order of Friendship of the Russian Federation is a star-shaped golden medal, encrusted with blue enamel, showing a map of the world. Last year, as Russia was beginning to ration supplies of gas to Europe and Vladimir Putin was planning his assault on Ukraine, Roger Munnings announced he had been named as the medal’s latest recipient. The former long-serving head of KPMG’s Russian operations, Munnings is a director of three firms of major strategic importance Putin’s regime: Lukoil, Nornickel and the banking to telecoms conglomerate Sistema.Munnings is a busy man. As well as his three directorships – which pay out an estimated $707,000 a year combined, according to company filings – he also heads the Russo-British Chamber of Commerce, which promotes closer ties between the two countries. Now, these ties are fast unravelling as western governments tighten sanctions on Moscow and businesses cut all dealings with Russia. Continue reading…
Outrage over invasion of Ukraine leaves executives under pressure to resign and governance mechanisms in shreds
The Order of Friendship of the Russian Federation is a star-shaped golden medal, encrusted with blue enamel, showing a map of the world. Last year, as Russia was beginning to ration supplies of gas to Europe and Vladimir Putin was planning his assault on Ukraine, Roger Munnings announced he had been named as the medal’s latest recipient. The former long-serving head of KPMG’s Russian operations, Munnings is a director of three firms of major strategic importance Putin’s regime: Lukoil, Nornickel and the banking to telecoms conglomerate Sistema.
Munnings is a busy man. As well as his three directorships – which pay out an estimated $707,000 a year combined, according to company filings – he also heads the Russo-British Chamber of Commerce, which promotes closer ties between the two countries. Now, these ties are fast unravelling as western governments tighten sanctions on Moscow and businesses cut all dealings with Russia.