The Company understands corporate governance as the totality of processes ensuring management and control of its activity in the interests of shareholders. These processes include the relationship between shareholders, the Board of Directors and executive bodies of the Company. The Company considers corporate governance as a means to raise its efficiency, to strengthen its goodwill and to increase capitalization.
JSC INTER RAO UES follows an approach of improvement and bringing its corporate governance system in compliance with the best global practice. The Company realizes that an efficient and transparent system of relationship of its management bodies, investors, shareholders and concerned parties is a competitive advantage in business, allowing it to improve investment attractiveness, to decrease loan cost and, as a consequence, to increase market capitalization.
Corporate governance is carried out in accordance with the Corporate Governance Code adopted in the Company and is based on the following principles:
Accountability. The Code envisages accountability of the Board of Directors of the Company to all shareholders in accordance with existing legislation and guides the Board of Directors in development of decisions and control of activity of executive bodies of the Company.
Fairness. The Company undertakes to protect the rights of shareholders and to ensure equal relations with all shareholders. The Board of Directors provides all shareholders with the possibility to receive efficient protection in case these rights are violated.
Transparency. The Company ensures timely disclosure of reliable information about all material facts relating to its activity including information about its financial standing, social and ecological indicators, the results of activity, and the structure of property and management of the Company as well as free access to such information for all parties concerned.
Responsibility. The Company acknowledges the rights of all concerned parties envisaged in the existing legislation, and seeks cooperation with such parties for the purposes of its development and financial stability.
In its practice of corporate governance JSC INTER RAO UES aspires to follow the main principles stated in the Corporate Conduct Code recommended for application by the Federal Financial Markets Service.
