Basic powers of the Executive Board
The following issues are under the competence of the Executive Board:
- Long-term plans of the Company’s major activities development, their submission for consideration to the Board of Directors;
- Preparation of business plan (adjusted business plan) and its implementation reports, approval (adjustment) of the Company’s cash flow;
- Preparation of reports on the Company financial results and fulfillment of the general meetings and board of Directors decisions;
- Decision making on transactions on property, works and services, value of which is from 1 to 10 per cent of the Company assets balance value as on the date of transaction (as per item 15.1, sub-item 37of the By-Laws in force);
- Approval of plans and activities aimed at the personnel training and professional development;
- Determination of social benefits and guarantees for the company employees;
- Decision making on the issues under the competence of the senior management bodies of the companies, 100 (one hundred)% authorized capital or all voting shares of which are owned by the Company (as per item 15.1, sub-item 35 of the By-Laws in force);
- Consideration of reports of the company Deputy General Directors and division heads on plans, programs, orders execution results; review of documents, returns and other information on activity of the Company, its subsidiaries and affiliates;
- Decision-making on other operational management issues in accordance with resolutions of the General Meetings, Board of Directors’ meetings as well as the issues proposed to the Executive Board by the General Director of the Company.