Time of Management

6. Corporate Governance

6.3. NCC Corporate Governance Structure

NCC Corporate Governance Structure

6.4. NCC Management Bodies

  • General Shareholders Meeting is a supreme management body;

The General Shareholders Meeting adopts resolutions on the main issues of NCC’s activity. Powers of the General Shareholders Meeting are contemplated by Federal Law No. 208-FZ dated 26.12.1995 On Joint-Stock Companies and embedded in NCC’s Articles of Association.

100% of NCC’s shares are owned by Moscow Exchange, therefore, any resolutions falling within the competence of the General Shareholders Meeting are adopted by the shareholder solely and are executed in writing.

  • The Supervisory Board is the management body responsible for overall management of NCC’s business, except for the matters falling within the competence of the General Shareholders Meeting (sole shareholder) of NCC in compliance with the Federal Law On Joint-Stock Companies. The Supervisory Board Members are elected by the General Shareholders Meeting to hold office until the next annual General Shareholders Meeting. The activity of NCC’s Supervisory Board is regulated by the Regulation on the Supervisory Board approved by NCC’s General Shareholders Meeting (sole shareholder).
  • The Executive Board is a collective executive body, who provides daily management of NCC’s operations. Executive Board members are elected by the Supervisory Board; each member’s term of office being determined by resolution of the Supervisory Board but for not more than five years. The activity of NCC Supervisory Board is regulated by the Regulation on the Executive Board approved by the General Shareholders Meeting (sole shareholder) of NCC.
  • CEO is the sole executive body, who provides daily management of NCC’s operations and is elected by the Supervisory Board for a term to be determined by the Supervisory Board but for not more than five years.

Composition of the Supervisory Board, Information on Its Members and Meetings

On 20 May 2019, when considering the matters within the competence of the General Shareholders Meeting, Moscow Exchange, as the sole shareholder, adopted its resolution on election of the following persons to the Company’s Supervisory Board till the Annual General Shareholders Meeting to be held in 2020:

  • Andrey Golikov,
  • Igor Golutvin,
  • Yuri Denisov,
  • Vadim Kulik,
  • Sergey Lykov,
  • Sergey Monin,
  • Alexander Udod,
  • Alexey Khavin,
  • Andrey Shemetov.

On 30 June 2020, when considering the matters within the competence of the General Shareholders Meeting, Moscow Exchange, as the sole shareholder, adopted its resolution on election of the following persons to the Company’s Supervisory Board till the Annual General Shareholders Meeting to be held in 2021:

  • Anna Arkhangelskaya,
  • Andrey Golikov,
  • Yury Denisov,
  • Sergey Lykov,
  • Igor Marich,
  • Olga Trofimova,
  • Andrey Popov,
  • Natalia Puzyrnikova,
  • Alexander Udod,
  • Andrey S

Thus, Igor Golutvin, Vadim Kulik, Sergey Monin, Alexey Khavin resigned from the Supervisory Board and Anna Arkhangelskaya, Igor Marich, Olga Trofimova, Andrey Popov, and Natalia Puzyrnikova became members of the Supervisory Board.