The Committee is a permanent committee under the Board of Directors since 2004.
The main purpose of the Committee is preliminary consideration and preparation of recommendations to the Board of Directors regarding development and improvement of the corporate governance system in the Company. The activities of the Committee conform to the legislation of the Russian Federation, the Charter of the Company, the Regulations on the Board of Directors, resolutions of the Board of Directors of the Company, this Regulation, other internal documents of the Company, and the decisions of the Committee.
Nail Ulfatovich Maganovmember of the Board of Directors, Chairman of the Management Board, General Director of TATNEFT
R. K. Sabirovmember of the Board of Directors, nonexecutive director, assistant to the president of the Republic of Tatarstan
N. Z. SyubayevDeputy General Director for Strategic Development of TATNEFT
E. A. TikhturovHead of the Finance Department of TATNEFT
N. Ye. DorpekoCorporate consultant to the General Director of TATNEFT
V. A. Mozgovoyassistant to the General Director for Corporate Finance of TATNEFT
V. D. YershovHead of the Legal Department of TATNEFT
R. M. Khisamovcorporate secretary of TATNEFT until October 22, 2017
During the corporate year, there were changes in the composition of the corporate governance Committee; as of October 22, 2017, the powers of a member of the Committee R. M. Khisamov were terminated by his death.
The Committee initiates and organizationally ensures the improvement of the Company’s corporate governance system, mechanisms and procedures, including:
- Assisting the Board of Directors and the General Director in assessing the quality of corporate relations and in developing the corporate governance system in the Company;
- Development of recommendations for the development of corporate practice in accordance with current legislation, rules of stock exchanges, advanced international standards;
- Consideration of internal documents of the Company aimed at improving corporate governance in the Company;
- Interaction with shareholders of the Company, members of the Board of Directors and Committees of the Board of Directors, management of the Company on issues of corporate practice.
ACTIVITIES OF THE CORPORATE GOVERNANCE COMMITTEE IN THE REPORTING YEAR
In 2017, there were 2 meetings of the Committee (one every six months) under the chairmanship of the General Director of the Company N. U. Maganov, with the participation of all members of the Committee.
Principal issues considered:
New versions of internal documents of the Company were preliminarily considered: Charter, Regulations on the General Shareholders’ Meeting, Regulations on the Board of Directors, Regulations on the General Director, Regulations on the Management Board, Dividend Policy, and a new document—Regulation on Disclosure of Information to Shareholders. The members of the Committee contribute on a regular basis to the development of corporate practices in the Company, interact with shareholders, members of the Board of Directors, Committees, and management on issues of corporate law and administration, and maintain a direct dialog wih stock market regulators.
PLANS FOR 2018
- Issues of developing the practice of managing aspects of ESG and the potential for international investors to evaluate corporate governance practices, taking into account socially responsible investment.
- Issues of development of the KPI-based remuneration system.
- Improving the corporate governance appraisal and performance appraisal of the Board of Directors.
- Development of a risk management and internal control system.
- Control of disclosure procedures.
- Issues of ensuring the protection of insider information.
- Development of a corporate website.
- Development of the Company’s internal documents base in the field of corporate practice.