Independent Directors

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Special Focus: Independent Directors




This is particularly important with respect to electing independent directors in Russia. Those familiar with the Russian markets know that directors are elected not via slates, as in the US, but individually. Often the number of nominees greatly exceeds the number of seats, and there can be many independent candidates. If minority investors choose among the nominees at will, the result is often vote dispersion that results in no independent directors being elected at all, because none of them gathered enough votes to pass the necessary threshold. This is why one of our ongoing tasks is consolidating investors votes toward the election of truly independent candidates to the boards of Russian companies. In 2012, solely through consolidating minority investors’ votes, we elected over 50 independent directors to the boards of over 30 public Russian companies.







Seppo Remes, head of the investment fund EOS Russia and professional independent director specializing in the Russian energy sector, receives an award for “best independent director” based on investor votes at an IPA conference in 2009.

Currently, our independent directors are present at the following companies:

Ticker ISIN ISSUER MEMBERS OF THE BOARD OF DIRECTORS STATUS
AFLT RU0009062285 AEROFLOT Alexey Germanovich INED
ARLS  RU0007252813 ALROSA Maria Gordon INED
 BSPB  RU0009100945 BANK SAINT PETERSBURG  Alexey Germanovich INED
GCHE RU000A0JL4R1 CHERKIZOVO GROUP Vitaly Podolsky INED
DIXY   RU000A0JP7H1 DIXY Group Alexander Prisyazhnyuk INED
ENRU  RU000A0JVGB6 ENEL RUSSIA Alex Williams INED
GZCE RU0006752631 GORNOZAVODSKCEMENT Boris Sinegubko NED
MRKP RU000A0JPN96 IDGC OF CENTER AND VOLGA REGION  Oleg Fedorov,        INED      NED
       Vladimir Chistyakov
MRKC RU000A0JPPL8 IDGC OF CENTRE Alexander Shevchuk INED
MRKZ  RU000A0JPPB9 IDGC OF NORTH-WEST Sergey Pokrovsky Alexander Shevchuk INED
MRKU   RU000A0JPPG8 IDGC OF THE SOUTH Vladimir Dudchenko Alexander Shevchuk INED
MRKY RU000A0JPPT1 IDGC OF THE URALS  Alexander Shevchuk INED
MRKV  RU000A0JPPN4 IDGC OF VOLGA Alexander Golovtsov Mikhail Gerasimenko INED
KBTK RU000A0JPYD7 KUZBASSKAYA TOPLIVNAYA COMPANY Alex Williams INED
LSRG RU000A0JPFP0 LSR Alexander Prisyazhnyuk           Vitaly Podolsky INED
MVID  RU000A0JPGA0 M. VIDEO Alexander Prisyazhnyuk INED
MAGE  RU0006758919 Magadanenergo Polovnev Igor, Igor Repin INED
MOEX RU000A0JR4A1 MOSCOW EXCHANGE Maria Gordon INED
    NEFAZ Andrey Vinkov INED
OGKB RU000A0JNG55 OGK-2 Denis Kulikov       Alexander Shevchuk INED
 HYDR  US7821834048 RUSHYDRO Vyacheslav Pivovarov INED
SBER  US80585Y3080 SBERBANK Nadia Wells  INED
TUZA RU000A0HL7A2 TZA Denis Kulikov                      INED
 

We offer our members, as well as any minority investors who are interested, the opportunity to interact directly with the independent directors to get a sense of what’s going on internally at a company – however, on the strict condition that no insider information is asked for or disclosed.
 
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