Board of Directors
The Board of Directors is a collective governance body executing the general management of the Company’s operations, defining its strategy, controlling the operations of the executive bodies of the Company, the implementation of resolutions made by the General Meeting of Shareholders, and the respect of the legitimate interests of the shareholders of the Company.
Main goals and objectives of the Board of Directors:
- To define the development strategy of the Company, which is aimed to enhance its market value and investment attractiveness, to receive maximum profits, and expand assets of the Company
- To provide the exercise and protection of the rights and legitimate interests of the shareholders, as well as to assist in corporate conflict resolution
- To provide for full, reliable and objective disclosure of the Company’s information to shareholders and other parties concerned
- To establish effective internal controls
- To conduct regular assessment of executive body activities and the Company’s management operations
To achieve the goals and objectives set, the Board of Directors abides by the following principles:
- Decisions are to be made based on reliable information about the Company’s operations
- Shareholders’ rights to involvement with the management of the Company and the acquisition of the dividends and the Company’s information are not to be restricted
- Interests of various shareholder groups are to be balanced and the Board of Directors shall make decisions that are objective and in the best interests of all of the Company’s shareholders
In its operations, the Board of Directors abides by Federal Law on Joint Stock Companies and other federal laws and regulations of the Russian Federation, the Company’s Articles of Association and the Regulation on the Board of DirectorsThe Regulation on the Board of Directors of Rosseti Kuban, PJSC is published on the Company’s website in the About the Company / Constitutive and Internal Documents section..
D&O insurance of Board members
Starting from 25 September 2023, D&O insurance was provided under the single liability insurance contract concluded between Rosseti PJSC and the leader of the collective participant, Joint Stock Company Insurance Company of Gas Industry (SOGAZ JSC), acting on behalf of the consortium members: Joint Stock Company VSK Insurance, Joint Stock Company AlfaStrakhovanie and Limited Liability Company Sberbank Insurance.
| 2022 | 2023 | 2024In 2024, the liability of the members of the Company’s Board of Directors is insured under a single insurance agreement concluded by Rosseti PJSC with an insurer covering directors and officers of Rosseti’s subsidiaries and affiliates. |
|---|---|---|
| 7.5 | 5.5 | – |