Committees of the Board of directors
According to the By-laws of JSC SITRONICS, 6 committees have been designated under the BoD by resolution of the Board of Directors of the Society with the objective to supervise, for the sake of shareholders of the Society, key issues affecting the activities of JSC SITRONICS.
Audit Committee
The objective of the Audit Committee is to render assistance to the Board of Directors of the Society in overseeing a full disclosure and validity of financial statements and other reporting, the process of compiling and submitting them, the functioning of the internal control system, internal audits, risk management, in evaluating the skill level and level of autonomy of the external auditor, the quality of services rendered by him, ensuring observance of laws, By-laws and internal documents of the Society.
The activities of the Audit Committee are regulated by a Regulation on the Audit Committee of the Board of Directors of JSC SITRONICS approved by the BoD of JSC SITRONICS on December 23, 2008.
Members of the Audit Committee:
Igor Kozlov – Chairman of the Committee;
Yevgeny Madorsky
Igor Busarov
Budget Committee
The main objectives of the Budget Committee are the preliminary consideration of matters related to the approval of budgets, business plans and investment plans of the Society and the formulation of guidelines to the Board of Directors of the Society on issues such as general supervision of the process for preparation and implementation of budgets and plans, passing resolutions on key issues related to preparation and implementation of budgets and plans in due time.
The activities of the Budget Committee are regulated by a Regulation on the Budget Committee of the Board of Directors of JSC SITRONICS approved by the BoD of JSC SITRONICS on July 1, 2009.
Members of the Budget Committee:
Igor Busarov - Chairman of the Committee;
Yevgeny Tarasov;
Elena Myakotnikova;
Committee for Corporate Behavior
The goal of the Committee is the development of recommendations for the Board of Directors of the Company in regard of establishment of efficient system of corporate governance in the Company that complies with the international standards, enables governance efficiency increase, guarantees the protection of rights and interests of the shareholders, ensures the increase of investment attractiveness for the securities of the Company, increase of ratings, reduction of the borrowing costs, increase of efficiency of interaction between the Board of Directors and Company management.
The activities of the Committee for Corporate Behavior are regulated by a Regulation on the Committee for Corporate Behavior of the Board of Directors of JSC SITRONICS approved by the BoD of JSC SITRONICS on December 23, 2008.
Members of the Committee for corporate behavior:
Vladimir Uvakin – Chairman of the Committee
Alexander Semenov;
Oleg Shcherbakov;
Andrey Shmakov.
Committee on Investor Relations
The goal of the Committee is the development of recommendations for the Board of Directors of the Company related to the establishment of the system in the Company aimed to support efficient relations with the investment community and to increase the investment attractiveness of the securities of the Company. The activity of the Committee is to assist to increase of the capitalization of the Company and to protect the rights and interests of its shareholders.
The activities of the Committee on Investor Relations are regulated by a Regulation on the Committee on Investor Relations of the Board of Directors of JSC SITRONICS approved by the BoD of JSC SITRONICS on December 23, 2008.
Members of the Committee on investor relations:
Kanwal Sibal – The Chairman of the Committee;
Sergey Aslanian;
Yevgeny Tarasov;
Irina Lanina.
Committee on Strategy, Mergers and Acquisitions
The Committee on Strategy, Mergers and Acquisitions is a collegial consultative and advisory body under the Board of Directors of JSC SITRONICS whose prime objective is to render assistance to the Board of Directors in defining strategic targets and working out the core activity lines of JSC SITRONICS as well as formulating and submitting guidelines to the Board of Directors of the Society on issues related to takeovers and mergers, changes in the existing development strategy of JSC SITRONICS based on the need to improve the operating efficiency.
The activities of the Committee on Strategy, Mergers and Acquisitions are regulated by a Provision on the Committee on Strategy, Mergers and Acquisitions of the Board of Directors of JSC SITRONICS approved by the BoD of JSC SITRONICS on December 23, 2008.
Members of the Committee on Strategy, Mergers and Acquisitions:
Igor Kozlov - Chairman of the Committee;
Sergey Aslanian;
Vladimir Goncharov;
Igor Zakharchenko;
Oksana Kovalevskaya;
Evgeny Madorskiy;
Gregor Harter.
HR and Remuneration Committee
The main objective of the HR and Remuneration Committee is to formulate and submit guidelines to the Board of Directors of the Society on issues related to the personnel policy of the Society, as well as a system of motivation and remuneration of the members of the BoD, the Committees of the BoD, the top executive officers of the Society directly (immediately), subordinate to the President of the Society as well as other staff in compliance with the By-laws of the Society.
The activities of the HR and Remuneration Committee are regulated by a Regulation on HR and Remuneration Committee of the Board of Directors of JSC SITRONICS approved by the BoD of JSC SITRONICS on December 23, 2008.
Members of the HR and Remuneration Committee:
Sergey Boev - Chairman of the Committee;
Igor Kozlov;
Vladimir Uvakin.