— Investor Relations — Corporate Governance — Structure — Board of Directors
Board of Directors
The Board of Directors of the bank is responsible for the general management of the bank’s activities, except the questions reserved to the exclusive competence of the General Meeting of Shareholders.
The Board of Directors is empowered to determine the strategic policy of the bank, to control its financial and economic activities, establish and maintain an effective system of internal control, secure shareholders’ rights and supervise the activity of the executive bodies.
The Board of Directors includes 12 members elected by cumulative voting during the annual General Meeting of Shareholders for a period till the next scheduled annual General Meeting of Shareholders or a special General Meeting of Shareholders with election of new members of the Board of Directors on its agenda.
On June 25, 2010 the General Meeting of Shareholders elected the Board of Directors consisting of 12 members.
As per the requirements of the bank’s Corporate Governance Code, the Board of Directors should include at least three independent members in order to secure objective decision making and to maintain a balance between interests of different groups of shareholders. Criteria of the Board of Directors members’ independence are based on the Regulations on Organization of Trading Activity on the Securities Market adopted by The Federal Financial Market Service. At present the Board of Directors includes 6 independent directors.
In accordance with annual General Shareholders Meeting decision remuneration for members of the Board of Directors totaled USD 320 000. Remuneration for executive directors (Chairman and members of the Management Board) wasn’t paid.
Regulations on the Board of Directors
Information about activity of the Board of Directors
In 2010-2011 the Board of Directors held 10 meetings, 1 of which were conducted in the form of joint presence and 9 as voting in absentia (by the way of completing the relevant questionnaires). In total the Directors have discussed 87 items.
17.06.2011 The Board of Directors of Bank Vozrozhdenie held its regular meeting
27.05.2011 The Board of Directors of Bank Vozrozhdenie held its regular meeting
29.04.2011 The Board of Directors of Bank Vozrozhdenie approved the date of holding the annual General Meeting of Shareholders and recommended to pay dividends following the results of 2010
25.03.2011 The Board of Directors of Bank Vozrozhdenie held its regular meeting
4.02.2011 The Board of Directors of Bank Vozrozhdenie held its regular meeting
26.11.2010 The Board of Directors of Bank Vozrozhdenie held its regular meeting
1.10.2010 The Board of Directors of Bank Vozrozhdenie held its regular meeting
3.09.2010 The Board of Directors of Bank Vozrozhdenie held its regular meeting
25.06.2010 Bank Vozrozhdenie holds the Annual General Meeting of Shareholders
18.06.2010 The Board of Directors of Bank Vozrozhdenie held its regular meeting
28.05.2010 Òhe Board of Directors of Bank Vozrozhdenie held its regular meeting
23.04.2010 The Board of Directors of Bank Vozrozhdenie approved a date of holding the annual General Meeting of Shareholders and recommended to pay dividends following the results of 2009
19.03.2010 The Board of Directors of Bank Vozrozhdenie held its regular meeting
4.02.2010 The Board of Directors of Bank Vozrozhdenie held its regular meeting
