Corporate governancePJSC “Russian Aquaculture” corporate governance system is based on the adherence to the principles of corporate governance established by the Corporate Governance Code of the Company:
- Accountability. The Code provides for accountability of the Board of Directors of the Company to all the shareholders in accordance with the effective legislation of the Russian Federation and serves as guidance for the Board of Directors in formulation of the strategy and exercising the management of and control over the operation of the executive bodies of the Company.
- Justice. The Company undertakes to protect the rights of the shareholders and to ensure equal treatment for all the shareholders. The Board of Directors provides an opportunity to all the shareholders to obtain effective protection in case their rights have been violated.
- Transparency. The Company ensures timely disclosure of reliable information about all corporate actions relating to its business, including its financial standing, operating results, ownership and management structure of the Company, as well as free access to such information to all parties concerned.
The Company duly provides the shareholders and investors with the information about the events taking place in the Company to make any necessary decisions in respect of their securities.In order to ensure reliable registration and recording of titles to shares, the maintenance of the register of the shareholders has been transferred to an independent registrar, АО “NRK”. The Registrar has an unblemished reputation, necessary technological infrastructure and a team of professionals.
Corporate BodiesThe PJSC “Russian Aquaculture” corporate governance system includes the following corporate bodies:
- The general meeting of shareholders is the supreme governing body which the Shareholders use to exercise their right to take part in managing the Company;
- The Board of Directors is the corporate body responsible for formulation of the Company’s strategy, overall management of the operations and control over the operation of the executive bodies of the Company;
- The committees of the Board of Directors, particularly the Audit Committee of the Board of Directors, the Nomination and Remuneration Committee Board of Directors, and the Strategy Committee of the Board of Directors;
- General Director of the Company is the sole executive body who manages the ongoing operations of the Company and also implements the strategy formulated by the Board of Directors and the shareholders;
- Corporate bodies of subsidiaries and affiliates are the governing bodies stipulated in the charters and other internal documents of these companies;
- The inspector of the Company who exercises control over the financial and economic activities of the Company.
- External auditor of the Company that audits the Company’s reports.
- Internal Audit Service (this body is currently being created in the Company).