OJSC Kubanenergo
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Board of Directors

The Board of Directors performs general management of the Company’s activity, excluding the matters being the responsibility of the General Meeting of Shareholders, and plays a fundamental part in the Company’s management.

The main objectives and tasks of the Board of Directors are:

  • To determine the Company’s development strategy aimed at enhancement of its market capitalization and investment prospects, achievement of maximum profit and increments of assets of the Company;
  • To ensure exercise and protection of rights and legitimate interests of shareholders, as well as to assist in settlement of corporate conflicts;
  • To ensure completeness, reliability and neutrality of disclosure of information about the Company;
  • To establish efficient mechanisms of internal control;
  • Approval of key performance indicators, regular evaluation of activities of Company's executive bodies.

            In order to implement the above purposes and tasks, the Board of Directors is guided by the following principles:

  • To adopt decisions on the basis of reliable information on the Company’s activity;
  • To avoid restriction of the shareholders’ rights to participate in the management of the Company, receipt of dividends and information about the Company;
  • To achieve balance of convenience of different groups of shareholders and to have the most neutral decisions adopted by the the Board of Directors to the benefit of all shareholders of the Company.

The responsibility of the Company’s Board of Directors is extended compared to the standards of Federal Law “On Joint-Stock Companies”; it additionally includes the following matters:

  • Determining the development strategy of the Company;
  • Approval of business plan, including investment program;
  • Determination of the credit policy of the Company;
  • Approval of the procedure of the Company’s interaction with the organizations wherein it participates;
  • Determination of the Company’s stance on the basic issues of the agenda of the General Meetings of Shareholders (participants) and meetings of the Board of Directors of the S&A;  
  • Preliminary approval of the decisions on conclusion of the following transactions by the Company:
    • Transactions the subject whereof are non‑current assets in the amount exceeding 10% of the book value of its total non-current assets;
    • Transactions involving alienation or a possibility of alienation of property constituting fixed assets, intangible assets, the facilities under construction, the purpose of use whereof is transfer, dispatching, distribution of electric power;
    • Transactions involving donation of the Company’s property or proprietary rights (claims) to itself or to a third party; transactions involving releasing from property obligation before itself or a third party; transactions involving gratuitous provision of services by the Company to third parties;
  • Determination of purchase policy of the Company, and approval of annual complex purchase program;
  • Approval of target values of key performance indicators of the Company and reports on performance thereof;
  • Determination of the Company policy in part of improvement of reliability of the power grids disruption complex and other power grid facilities, including approval of the Company’s strategic programs for development of power supply network, improvement of its reliability and safety.

The Regulations on the Procedure for Convening and Holding Meetings of the Board of Directors * stipulate the rights, obligations and liability of the members of the Board of Directors, organization of work of the Board of Directors, the terms and procedure of convening and holding of its meetings, the procedure of decision making and other issues of its activity.

The Board of Directors includes 11 persons elected by the General Meeting of Shareholders for the period up to the following annual General Meeting of Shareholders.

* Find the Regulations on Procedure for Convening and Holding Meetings of the Board of Directors of OJSC Kubanenergo on the website of www.kubanenergo.ru, in section About the Company / Constituent and in-house documents