The Management Board is responsible for the practical implementation of the objectives, strategy, and policy of the Company and manages its current activities within its competence.
The main tasks of the Board:
- observance of the rights and legitimate interests of the Company’s shareholders;
- development of proposals for the Company’s growth policy;
- implementation of the financial and business policy of the Company, making decisions on the most critical issues of its current business activities and coordination of the work of its subdivisions;
- improving the efficiency of compliance control and risk monitoring systems;
- providing a high level of profitability of the Company’s assets and maximum profit from its activities.
The Management Board of the Company acts based on the Charter and the Regulation for the Management BoardManagement Board Regulation of Kubanenergo PJSC is published on the website — section ’About Us/ Constituent and internal documents., approved by the decision of the General Meeting of Shareholders of the Company.
The competence of this executive body comprises, in particular, the following issues:
- making decisions on issues falling within the competence of the supreme management bodies of business entities, 100% of the authorized capital or all voting shares of which belong to the Company;
- development and submission long-term plans for the implementation of the main activities of the Company to the Board of Directors;
- preparation of a business plan and a report on the results of its implementation, as well as approval and adjustment of cash flow;
- preparation of the Company’s annual report, report compliance with decisions of the General Meeting of Shareholders and the Board of Directors of the Company’s Management Board;
- establishing social benefits and guarantees for the Company’s employees;
- making decisions on transactions, involving property, work and services with a value from 1 to 25% of the book value of the Company’s assets;
- consideration of reports of Deputy General Directors, heads of structural subdivisions of the Company on the results of the implementation of approved plans, programs, instructions, consideration of reports, documents, other information about the activities of the Company and its subsidiaries and affiliates;
- effective risk management in the framework of the current activities of the Company; approval of the budget for risk management measures to the extent agreed by the decision of the Company’s Board of Directors; resolution of risk management tasks performed by several structural subdivisions.