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Executive Bodies, OAO NGK Slavneft

The day-to-day operation of OAO NGK Slavneft is governed by the Company’s President (the sole executive body) and the Management Board (the collegial executive body) in accordance with Article 9 of the Slavneft Articles of Association.

The Management Board is the Company’s collegial, executive body, which acts on the basis of the Regulations on Executive Bodies approved by the Shareholders Meeting and within the competence established by the Articles of Association, the Resolutions of the Shareholders Meeting and Board of Directors.

The Company’s Management Board:
 
  • Ensures execution of the resolutions adopted by the Board of Directors and at the Shareholders Meeting;
  • Accepts the Company Development Programs, including Investment Programs;
  • Considers and approves the Company’s budget and results of its execution;
  • Ensures coordination of the Slavneft investment, credit and financial, pricing policy;
  • Preliminary considers draft resolutions on establishment and liquidation of Slavneft branches and representative offices;
  • Ensures fulfillment of other functions specified by the Regulations on the Slavneft Executive Bodies, resolutions of the Shareholders Meeting and Board of Directors.
The Slavneft President chairs the Management Board, arranges its works, presides over Management Board’s meetings, and acts without the Power of Attorney on behalf of the Company in accordance with the Management Board’s resolutions adopted within its competence.
 
The President manages the Company’s day-to-day operation, excluding the items fallen within the competence of the General Shareholders Meeting and Board of Directors, arranges execution of the Shareholders Meeting/ Board of Directors resolutions.