The Company continued to improve its corporate governance system and conducted an assessment of the efficiency, independence and quality of the internal audit function. The assessment was made by the Board members, Company`s management and external auditors and the function was estimated as efficient.
The General meeting of Shareholders is the supreme management body and acts in accordance with the laws of the Russian Federation, the Charter of PJSC Raspadskaya and
The Board of Directors of PJSC Raspadskaya reports to the Company`s shareholders and is elected by a general meeting of shareholders. The election procedure and the reserved matters of the Board of Directors and its meetings are regulated by the Charter and
According to the Regulation on the Board of Directors the Board consists of 9 members. There are 5 independent directors out of 9 Board members. The Board members are elected by a general meeting of shareholders for the term until the next annual meeting of shareholders. This quantitative composition allows to meet the Company`s purposes, and well-balanced composition of the Board with independent directors guarantees that shareholders’ interests define when decision making and fosters corporate decisions.