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Board Committees

The Board Committees schedule is performed in accordance with Board of Directors work plan.

Strategy
Committee
Nomination and Compensation
Committee
Audit
Committee

Areas of responsibility:

The Strategy Committee is responsible for reviewing management’s proposals, assessing associated risks and developing recommendations to support the Board’s decision-making in the following key areas:

  • Defining the operating priorities of the company;
  • Developing the company’s overall strategy, strategic plans for business segments, and strategies by functional area;
  • Developing the company’s strategies and goals in target markets;
  • Implementing major investment projects;
  • Defining the company’s operating priorities and evaluating the operational efficiency of management;
  • Carrying out investment planning, project management and capital management;
  • Improving key business processes.

Members of the Committee:

For more details, see Strategy Committee report from our 2017 Annual Report.

Areas of responsibility:

  • Making recommendations to the Board of Directors regarding HR strategy, nominations and compensation, corporate governance and social policy;
  • Ensuring senior management continuity and developing a succession pool and talent pipeline; designing and assessing programmes to develop managers;
  • Ensuring compliance with industrial and environmental safety standards at our enterprises; monitoring our system of key performance indicators in this area;
  • Assessing the compliance of our industrial safety system with regulatory and corporate requirements; assessing the efficiency of controls in this area;
  • Analysing the causes and consequences of emergencies and development of recommendations on their prevention in future.

Members of the Committee:

For more details, see Nomination and Compensation Committee report from our 2017 Annual Report.

Areas of responsibility:

  • Ensuring the completeness and accuracy of the published financial statements;
  • Guiding the development of management reporting with regular review of performance reports;
  • Overseeing the implementation of budget planning policies and evaluating the effectiveness of budgeting systems;
  • Evaluating the performance of the external auditor and the effectiveness of the external audit process;
  • Assessing the effectiveness of internal control and risk management;
  • Supervising the work of the Internal Audit Department (IAD), including the quarterly analysis of audit findings and annual analysis of audit effectiveness.

Members of the Committee:

For more details, see Audit Committee report from our 2017 Annual Report.

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