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The Executive Board of the Company, as a collegial executive body, carries out the general management of the Company’s business activities (excluding the matters that are within the competence of the general meeting of shareholders and the Board of Directors, as well as the President of the Company according to the Federal Law On Joint Stock Companies or the Company’s Articles of Association, unless otherwise provided by the Company’s Articles of Association).
- Objectives of the Executive Board
- The main tasks of the Executive Board of the Company are the development of proposals in respect of the strategy of the Company’s activities, implementation of the financial and economic policy of the Company, making decisions on the most important issues of its current business activities, coordination of its divisions, improvement of efficiency of the internal control and risk monitoring systems, and ensuring the protection of rights and legal interests of shareholders.
- The Executive Board of the Company carries out its activities in accordance with laws of the Russian Federation, the Company’s Articles of Association, decisions of the general meetings of shareholders and the Board of Directors, this Regulation and internal documents of the Company.
- The Executive Board acts in the public interest and is accountable to the general meeting of shareholders and the Board of Directors of the Company.
The competence of the Executive Board of the Company includes:
- development of and submission to the Company’s Board of Directors of priority activities of the Company and long-term plans for the ir implementation, including annual budgets and Company investment programs, and the preparation of a report on the ir implementation for the Company’s Board of Directors, as well as the development and approval of current plans of the Company’s activities;
- approval of internal calculated tariffs, charges and fees for works (services) performed (provided) by the Company that do not relate to the sphere of natural monopolies;
- approval of rules to ensure the proper organization and accuracy of the Company’s accounting and timely submission of the annual report and other financial statements to the relevant authorities, as well as information on the Company’s activities to its shareholders, creditors and media;
- submission of issue prospectuses and other documents related to the issue of the Company’s securities to the Company’s Board of Directors;
- arrangement of long-term and current plans of the Company, implementation of investment, financial and other projects of the Company;
- determination of accounting procedures at the Company’s affiliates;
- review and approval of the Company’s draft collective bargaining agreement, regulations on the industry-specific non-state pension schemes, mandatory pension insurance, occupational pension insurance and sectoral tariff agreement for railway transport, as well as the ir submission for signing by the Company’s President;
- establishment of the procedure for disclosing information on the Company to shareholders;
- determination of the employee remuneration scheme and incentives for the Company’s employees;
- approval of the Company’s internal documents related to the issues that fall within the competence of the Executive Board;
- other issues associated with the ongoing activities of the Company submitted for consideration by the Chairman of the Company’s Executive Board, Board of Directors or shareholders