Authorities of the sole executive body

Sole executive body authorities

Management of current activities of the Company is performed by the sole executive body - General Director. General Director shall be accountable to the General Meeting of Shareholders and the Board of Directors of the Company. General Director shall be obliged to act in the interests of the Company, exercising one’s rights and discharging one’s obligations in a conscientious, reasonable way in accordance with best practices.
General Director without proxy shall act on behalf of the Company, among other things, representing the Company in relationships with third parties, making transactions on behalf of the Company to the extent of one’s competence and with regard to the restrictions specified thereby, approval of staffing decisions, issue of orders and instructions binding on all the workers of the Company. General Director shall ensure maintenance of the register of shareholders of the Company.
General Director shall organize control of usage of material, financial and labour resources of the Company.
Included in the competence of General Director shall be all issues related to management of current activities of the Company except for issues included in the competences of the General Meeting of Shareholders and the Board of Directors of the Company.
General Director shall organize enforcement of decisions of the General Meeting of Shareholders and the Board of Directors of the Company:
General Director shall approve of in-house documents of the Company including but not limited to: regulations, procedural regulations, standards, programs, instructions governing production and technological, financial, accounting, business, HR, social welfare issues as well as issues related to labour, safety and records management, business processes of the Company as well as other issues included in the competence of General Director of the Company.
General Director shall be held personally liable for protection of details constituting state secret.
Rights and obligations of General Director of the company as related to performance of management of current activities of the Company shall be as specified by Federal Law “On Joint-Stock Companies”, other legal instruments of The Russian Federation, the Regulations on General Director of the Company and the contract concluded with the Company. The contract concluded with General Director shall be on behalf of the Company be signed by Chairman of the Board of Directors of the Company or another person authorized by the Board of Directors of the Company.
The labour legislation of the Russian Federation (insofar as it does not conflict with provisions of Federal Law “On Joint-Stock Companies”) shall be applicable to relationships between the Company and General Director of the Company.
General Director of the Company shall be elected by the Board of Directors of the Company for a term of 1 year.
Parallel holding of offices with other organizations’ management bodies by the person discharging functions of the sole executive body of the Company shall be allowed solely upon consent of the Board of Directors of the Company.
The Board of Directors of the Company shall at any time have the right to decide on early termination of authorities of General Director of the Company.
By decision of the General Meeting of Shareholders authorities of the sole executive body of the Company may be contractually transferred to a commercial organization (managing organization) or a self-employed entrepreneur (general manager).
General Director discharging functions of General Director of the Company, the same as the managing organization (general manager), during execution of one’s rights and discharge of one’s obligations shall act in the interests of the Company, exercising one’s rights and discharging one’s obligations in a conscientious, reasonable way.
General Director discharging functions of General Director of the Company, the same as the managing organization (general manager), shall be held liable to the Company for losses sustained by the Company as a result of their wrongful actions (absence of action) unless other grounds and amounts of liability are specified by federal laws.