Corporate governance
3.2

Corporate governance system

The corporate governance system of IDGC of Urals (OAO) is based on principles designed to multiply assets, enhance investment prospects and market value, maintain the Company’s financial stability and profitability as well as respect the rights and interests of stockholders and stakeholders.

Disclosure and transparency of financial information aligned with preservation of the Company’s interests in terms of commercial secrets and confidential information play a significant role in the IDGC of Urals corporate governance system. One of the most important channels for distribution of information, available to the majority of stakeholders, is the Company’s official web-site (https://www.mrsk-ural.ru/en/), containing Investor Relations Section (https://www.mrsk-ural.ru/en/ir/) and Company’s official web-page at the Interfax newswire system (http://www.e-disclosure.ru/portal/company.aspx?id=12105). These resources can freely be used to view the latest Company’s news, financial and operational performance, variety of statements, reports and other useful information on the Company’s operations as well as bylaws regulating management and oversight bodies of the Company (The Charter, Regulations on the General Meeting of Stockholders, Regulations on the Board of Directors, Regulations on the Executive Board, Regulations on the Board of Internal Auditors, etc.). Adhering to the principle of equal access to the information for all stakeholders, IDGC of Urals (OAO) publishes information on its official web-site both in Russian and English.

THE STRUCTURE OF THE MANAGEMENT AND OVERSIGHT BODIES AT IDGC OF URALS (OAO)

BASIC DEFINITIONS:

GENERAL MEETING OF STOCKHOLDERS is the supreme governing body which purview covers the most significant aspects of the Company’s activities.
BOARD OF DIRECTORS is the governing body, designed to handle the overall management of the Company and liable for strategic management focusing on enhanced shareholder value of the Company. The Board of Directors oversees the Company’s executive bodies and supervises their efficiency.
BOARD OF DIRECTORS COMMITTEES are consultative and advisory bodies assisting the Board of Directors in its overall charge of the Company.
CORPORATE SECRETARY is a Company’s official enforcing Company’s compliance with Russian laws, Charter and bylaws of the Company that guarantee implementation of rights and interests of stockholders.
EXECUTIVE BOARD is the collegiate executive body that manages the Company’s day-to-day operations.
GENERAL DIRECTOR is the sole executive body that performs the functions of the Chair of the Company’s Executive Board.
BOARD OF INTERNAL AUDITORS is the supervisory body that oversees the Company’s financial and operational activities and is elected by the General Meeting of Stockholders.
EXTERNAL AUDITOR is the supervisory body, approved by the General Meeting at the suggestion of the Board of Directors to conduct annually audits of the Company’s RAS and IFRS financial statements.
INTERNAL CONTROL is a process carried out by the Company’s Board of Directors, Board of Internal Auditors, officers and employees of all Company’s management levels to enforce reasonable assurance of goal achievement.
INTERNAL AUDIT (DEPARTMENT) is a unit of the Company, liable for analysis and evaluation of the Company’s business processes.
ЦЕНТР ЗАГРУЗКИ
Здесь вы можете скачать полный отчет 2016, отдельные главы в формате PDF и наиболее важные таблицы в формате Excel.
1About company
1.1Mission and strategic goals
1.2Market share
1.3Key 2016 events
2Board of directors’ progress report
2.1Letter to stockholders
2.2Production capital formation
2.2.1Network exploitation
2.2.2Electricity transmission
2.2.3Technological connection
2.2.4Development of telecommunications and IT systems
2.2.5Investments
2.2.6Innovations
2.2.7Efficacy enhancement
2.3Financial capital formation
2.3.1Analysis of revenues and expenses
2.3.2Analysis of financial standing
2.3.3Analysis of receivables and payables
2.3.4Analysis of credit portfolio
2.3.5Description of tariff policy
3Corporate governance
3.1Corporate governance practices
3.2Corporate governance system
3.2.1General meeting of stockholders
3.2.2Board of Directors
3.2.3Board of directors’ committees
3.2.4General director and executive board
3.2.5Remuneration and compensation policy
3.3Oversight system
3.3.1Board of internal auditors
3.3.2Independent auditor
3.3.3Internal control
3.3.4Risk management
3.3.5Security and anti-corruption
3.4Investor and stockholder relations
3.4.1Shareholder capital structure
3.4.2 Shareholder rights
3.4.3The company and stock market
3.4.4Communications with market participants
3.4.5FAQ
3.4.6Allocation of profit
4Stakeholder
4.1Human resources management
4.2Customer support
4.3Supplier relationship management
4.4Public and goverment relations
4.5Environment protection
5Appendices
5.1Prepared under Russian accounting standards
5.2Prepared under international financial reporting standards
5.3Related-party transaction report
5.4Corporate governance code compliance report
5.5References
5.6Abbreviations and acronyms