Principles and Approach
Our corporate governance framework is designed to take into account and balance the interests of shareholders, the Board of Directors, management team, employees other stakeholders.
We comply with the applicable laws of the Russian Federation and principles set forth in the Corporate Governance Code that has become the main source for the development of the Company’s by-laws and a guidance to nurture the best corporate governance practices.
Governance – key focus areas:
- Equitable and fair treatment of every shareholder
- Support for the shareholders to let them exercise their rights and lawful interests in the most reasonable and convenient manner
- Professionalism and leadership of the Board of Directors, and involvement of independent directors in governance
- Strategic management by the Board of Directors, its efficient control over executive bodies, and oversight of the risk management and internal control framework
- Sound, bona fide and efficient management of the Company’s day-to-day operations by executive bodies accountable to the Board of Directors and the General Meeting of Shareholders
- Compliance with the Russian laws and the national laws of the countries of operation
- Corporate social responsibility
- Strong business ethics
- Zero tolerance to corruption, and effective anti-corruption measures
- Full, transparent, reliable and timely disclosure
- Robust internal controls, internal and external audits
- Active cooperation with investors, creditors, and other stakeholders in order to expand Company’s assets and increase its market value