print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

September 29, 2011

Sistema announces the composition of its Board Committees

Moscow, Russia – September 29, 2011 – Sistema JSFC (“Sistema”) (LSE: SSA), the largest diversified public financial corporation in Russia and the CIS, today announced that its Board of Directors has approved changes to the composition of the Board’s Committees and changes made to their provisions.

Each Committee will provide specific expertise that will enable the Company to form an informed position as a shareholder. The composition of each Committee is going to be determined by the Company’s investment strategy. The changes aim to:

-  enhance the Company’s investment decision-making process;

-  improve the efficiency of cooperation between shareholders and the Company’s management team;

-  assess the viability of each project and develop the relevant sector expertise prior to making any capital investments;

-  take full advantage of the business acumen of each Board member.

In accordance with the Board’s resolution, each item on the Board’s agenda will first be approved by the respective Committee. The Committees will now consist of Board members only and each committee will have a new set of broader responsibilities. Committee members will be part of specific working groups, responsible for implementation of each project. The Committees will also participate in the recruitment of operational management and the assessment of their efficiency.

The Board of Directors approved the following composition of the Board’s Committees:

Strategy Committee

The committee consists of seven Board members:

1. Vladimir Evtushenkov – Chairman of the Committee;

2. Mikhail Shamolin – Deputy Chairman of the Committee;

3. Alexander Goncharuk;

4. Ron Sommer;

5. Leonid Melamed;

6. Evgeny Novitsky;

7. Serge Tchuruk;

Audit and Finance Committee

The committee comprises five Board members:

1. Roger Munnings – Chairman of the Committee;

2. Evgeny Novitsky;

3. Ron Sommer;

4. Dmitry Zubov;

5. David Iakobachvili;

Nomination, Remuneration and Corporate Governance Committee

The committee consists of six Board members:

1. Leonid Melamed – Chairman of the Committee;

2. Alexander Goncharuk;

3. Dmitry Zubov;

4. Roger Munnings;

5. Robert Kocharyan;

6. Mikhail Shamolin;

Investor Relations and Dividend Policy Committee

The committee comprises six Board members:

1. David Iakobachvili – Chairman of the Committee;

2. Alexander Goncharuk;

3. Ron Sommer;

4. Vyacheslav Kopiev;

5. Roger Munnings;

6. Serge Tchuruk;

Ethics and Internal Audit Committee

The committee consists of five Board members:

1. Robert Kocharyan – Chairman of the Committee;

2. Vyacheslav Kopiev;

3. Roger Munnings;

4. Leonid Melamed;

5. Mikhail Shamolin.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer