Basic powers of the General Director
I. The General Director carries out operating management of the Company in compliance with the decisions of General shareholders’ meetings, Board of Directors and Executive Board, made within their competence.
II. All issues of operating company management are under authority of the General Director, excluding ones within cognizance of the General Shareholders’ Meetings, Board of Directors and Executive Board.
III. The General Director represents the Company with no power of attorney, including, with regard to the limitations stipulated by the legislation in force, By-Laws and resolutions of the Board:
- provides the action plans fulfillment necessary for the company goals achievement;
- controls accounting and financial reporting;
- administers the Company estate, settles bargains in the name of the Company, issues proxies, opens the Company’s settlement and other accounts in banks and other credit institutions (as well as in recognized securities market makers in the cases stipulated by law);
- issues orders, approves instructions, local regulatory instruments and other corporate documents within his cognizance, gives directions mandatory for all employees of the Company;
- adopts branch and representative offices regulations;
- approves staffing structure and position salaries of the Company employees in accordance with the corporate executive office structure;
- exercises rights and liabilities of the employer, stipulated by the labour legislation, with regard to the Company employees;
- acts as the Chairman of Company Management Board;
- allocates duties to the deputy general directors;
- provides financial and business operations returns of the affiliates, shares of which are in the Company’s possession, as well as information on the entities the Company possesses stake in to the consideration of the Board;
- not later than 45 (forty five) days prior to the date of the Company General Shareholders’ meeting provides annual returns, accounting balance-sheet, profit and loss account, profit and loss sharing ratio for the Board’s consideration;
- resolves other issues of the Company’s day-to-day operation, excluding ones within cognizance of the General Shareholders’ Meetings, Board of Directors and Executive Board.
