Activities of the Board of Directors
In 2018, there were 34 meetings of the Board of Directors, of which two were held in-person and in absentia (including via video-conferencing), the rest — in the absentee form (by questionnaire).
Minutes of meetings of the Kubanenergo PJSC’ Board of Directors are published on the company’s website in the section "About the Company / Management / Board of Directors".
| 2016 | 2017 | 2018 | |
| Number of meetings held by the Board of Directors | 32 | 35 | 34 |
| of them arranged in full-time form | 2 | 3 | 2 |
| Number of issues addressed | 234 | 169 | 147 |
| including decisions made | 234 | 169 | 147 |
| The participation of the Board members in the work of this body on average | 84.6% | 95.0% | 98.3% |
Major decisions taken by the Board of Directors of Kubanenergo PJSC in the reporting year
- energy loss enhancement program;
- scenario conditions for the formation of the investment program;
- program of modernization (renovation) of power grid facilities;
- plan for decommissioning equipment containing polychlorinated biphenyls;
- the non-core asset transfer program.
- business plan;
- the timed action plan to reduce overdue receivables for electricity;
- transmission services;
- procurement plan;
- the program of non-state pension provision for the Company’s employees;
- plan for the development of a production asset management system;
- operating plan of the internal audit department;
- target values of key performance indicators of the Company’s General Director.
- in quality of the Company’s internal documents:
- The policy of PJSC "Rosseti" in the area of information technology, automation and telecommunications;
- The Unified Procurement Standard of PJSC Rosseti (Procurement Policy).
- new editions:
- Dividend Policy;
- Regulation on Information Policy;
- Insider Information Regulation
- The procedure for organizing the sale of non-core assets;
- Guidelines for determining the power reserves at the power centers of Kubanenergo PJSC.
- DRAFT ARTICLES OF ASSOCIATION AND INTERNAL REGULATIONS WERE REVIEWED AND PROPOSED FOR APPROVAL BY THE NEW GENERAL MEETING OF SHAREHOLDERS OF THE COMPANY IN A NEW EDITION.
- REPORTS OF THE GENERAL DIRECTOR WERE REVIEWED ON VARIOUS ASPECTS OF THE COMPANY’S FINANCIAL AND BUSINESS ACTIVITIES, AS WELL AS ON EXECUTION OF DECISIONS OF THE BOARD OF DIRECTORS (USUALLY QUARTERLY)
- A NOTIFICATION ON THE RESULTS OF AN ADDITIONAL ISSUE OF THE COMPANY’S SECURITIES HAS BEEN APPROVED.
- THERE WERE FORMED THE PERSONAL COMPOSITION OF COMMITTEES OF THE BOARD OF DIRECTORS
At in-person-absentee meetings (including via video-conferencing) in the reporting year, the Board of Directors has considered the following reports:
- on the execution of the Company’s business plan for 2017, as well as for the nine months of 2018;
- on the results of the implementation of the investment program for the fourth quarter and 12 months of 2017, for the third quarter and nine months of 2018
All members of the Board of Directors of the Company, who were simultaneously members of committees of the Board of Directors in 2018, took part in all meetings of committees, with the exception of I.A. Shagina, who did not participate in the meetings of the Audit Committee of the Board of Directors on May 21, 2018, September 26, 2018 and December 19, 2018
As a rule, the Chairman of the Board of Directors is elected at the first meeting of the Board of Directors in a new composition.
At one of the first meetings, the Board of Directors approves the action plan for the corporate year, which is formed on proposals from the Chairman and members of the Board of Directors, the Auditing Commission, General Director, members of the Management Board, and auditor in the following aspects:
- strategic development of the Company,
- medium-term and current planning of the Company’s activities,
- administration of the Board of Directors,
- control over the implementation of decisions of the Board of Directors and the General Meeting of Shareholders.
The action plan of the Board of Directors includes:
- issues to be considered at meetings of the Board of Directors (quarterly),
- schedule of meetings,
- the list of persons (management bodies of the Company) responsible for the preparation of issues for meetings of the Board of Directors.