Corporate Governance - Bryansk Refinery Ltd

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In keeping with Bryansk npz’s strategy, a developed system of corporate governance is one of the key elements in creating a balanced, dynamic, vertically integrated company of global stature.

Bryansk npz is building a corporate governance system practicing openness and transparency and strictly complying with Russian legislation

In its efforts to meet the highest international standards, the Company constantly monitors and applies the international best practices of corporate governance

The main areas of Bryansk npz’s corporate governance policy are

  • strict compliance with shareholder interests and dedication to the protection of their rights;

  • introduction of uniform management standards across all Company structures;

  • improvement of Company information policy and internal control systems;

  • implementation of the principles of openness and transparency;

  • constructive engagement with the Company’s investors, employees and business partners;

  • active implementation of the best practices of corporate governance.

The Company’s corporate governance structure is based on the following key principles:

  • transparency of all processes to shareholders, investors and partners;

  • an active and competent Board of Directors;

  • consistent and collective decision-making.

Bryansk npz’s principal governing bodies are

  • The General Meeting of Shareholders

  • The Board of Directors

  • The Management Board (collective executive body)

  • The President (sole executive body)

The Company’s principles and procedures of corporate governance are set out in its Charter and a number of other publicly available internal documents that collectively define the structure and authority of management and control over the Company’s financial and operating activities. The Code of Corporate Conduct and Code of Eyhics contains additional obligations in the areas of openness, social responsibility and business ethics.

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