Management Board

In accordance with the legislation on joint stock companies the management of day-to-day operations of the company is assigned to the executive bodies constituting a key link of the corporate governance structure: Director General (sole executive body) and Management Board (collective executive body).

The executive bodies of the Company act for the benefit of the Company and its shareholders and are accountable to the Board of Directors and the General Shareholders’ Meeting.

The main objectives of the executive bodies of the Company are: organization of day-to-day operations of the Company in accordance with the adopted financial and economic plan and efficient and timely implementation of resolutions of the General Shareholders’ Meeting and the Board of Directors of the Company.

Director General of the Company is Alexander Valerievich Dukov. By virtue of his office Director General helms the Management Board of the Company composed of highly-qualified professionals possessing special knowledge and skills in the area of the Company’s business and sufficient management experience.

The Company’s policy regarding remuneration of the executive bodies is designed to incentivize top managers of the Company into long-term and maximally productive work for the benefit of the Company. In view of this, the incentive system for the members of the executive bodies of the Company is based on the following principles:

• the amount of remuneration is commensurate with the professional experience and qualification of the members of the executive bodies of the Company;
• the amount of remuneration is directly dependent on the results of operations achieved by the Company.