Independent Directors

Results of the election campaign 2016
Results of the election campaign 2015
Results of the election campaign 2014
Results of the election campaign 2013

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:
  • Bank St. Petersburg
  • Bashkirenergo
  • VEROPHARM
  • GAZ
  • LSR Group
  • Cherkizovo Group
  • Dixy Group
  • M.Video
  • Kuzbasskaya Toplivnaya Kompaniya
  • Lenenergo
  • Magadanenergo
  • MOSTOTREST
  • IDGCs: of the Volga, North Caucasus, North-West, Center, Center and Privolzhye, South
  • OGK-2
  • RAO Energy Systems of the East
  • Selenginsky TsKK
  • Smolenskenergoremont
  • SOLLERS
  • Solombalsky TsBK
  • Transsignalstroy
  • Holding MRSK
  • Bryansk Milk Combinate
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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