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Management Bodies
23
annual report
2013
interested parties.
The main objective of corporate management is to
increase competitive ability and economic efficiency by:
n
consulting shareholders' interests;
n
balancing influences and interests of parties to
corporate relations;
n
increasing financial transparency;
n
implementing rules for rational management and
proper control.
Corporate management is a key factor of national
development and is an essential requirement for
maintaining presence in the competitive world market.
Our corporate management system is based on the
following principles:
n
The Company protects rights of the shareholders.
n
The Company provides equal attitude to all shareholders,
including minority and foreign shareholders.
n
The Company acknowledges legal rights of the
interested parties and encourages active cooperation
between the Company and all interested parties for
increase of social wealth, creation of new work places
and achievement of financial stability of the Company.
n
The Company provides timely disclosure of reliable
information about all important aspects of the Company
activities, including data about financial state, results of
business activity, composition of owners and
management structure.
n
The Board of Directors provides strategic business
management, efficient control of all managers and
regularly reports to its shareholders and the Company.