Committees under the Supervisory Board
Per the standards and best practices of corporate governance, the Committees under the Supervisory Board play an important role in ensuring the effective functioning of the Company and monitoring its activities. Each committee specialises in key areas that require detailed consideration and involvement of members of the Supervisory Board, which enables a more in-depth and effective consideration of issues related to this area.
To this end, 4 committees were established under the Supervisory Board:
- Nomination and Rewards Committee;
- Strategy and Investment Committee;
- Anti-Corruption and Ethics Committee;
- Audit Risk Committee.
Each committee, within the scope of its competence, preliminary considers issues that would be further submitted for approval by the Supervisory Board. This approach enables them to identify shortcomings in advance and address them before presenting to a meeting of the Supervisory Board, thereby increasing the efficiency of their activities, and optimising time resources.
Functions and tasks of the Committees
Nomination and Rewards Committee | Established for the purpose of development and coordination company’s HR policy, the formation of their organizational and incentive policies. |
Strategy and Investment Committee | Established for the purpose of analysis to determine the strategic and priority areas of the enterprise’s activities for the Supervisory Board, the company’s procurement and investment activities, developing recommendations on assessing the effectiveness of promising investment projects and their impact on increasing the enterprise value. |
Anti-Corruption and Ethics Committee | Established for the purpose monitoring compliance with the rules of etiquette and ethics and anti-corruption system at the enterprise. |
Audit and Risk Committee | Established for the purpose of assistance to Supervisory Board on ensuring structured, systematic oversight and assurance over the Enterprise’s corporate governance, risk management, and internal control practices. |