Management Bodies of OAO TATNEFT Print version
Management of OAO TATNEFT is performed in accordance with the Articles of Association and the Code of Corporate Management of the Company. The supreme management body is the General Meeting of Shareholders of the Open Joint-Stock Company TATNEFT.
General management of the Company’s activity is performed by the Board of Directors, elected annually by the General Meeting of Shareholders. The major competence of the Board of Directors is approval of strategic tasks; production and financial plans of the Company’s activity, as well as coordination of fundamental matters of the everyday development of the Company. The Board of Directors of OAO TATNEFT consists of 15 persons, including three independent directors.
System of the company management
For the purpose of coordinating interaction of the Board of Directors with executive bodies of the Company and assisting in improvement of the corporate management practice there are four committees are functioning with the Board of Directors:
— Audit Committee,
— Information Disclosure Committee,
— Corporate Management Committee,
— HR and Remuneration Committee.
Membership of the committees is annually approved by the Board of Directors.
Operational management of the Company’s everyday activity is performed by the General Director and the Management Board. The General Director is an official Chief Executive Officer and heads the Management Board. The Management Board is a collegial executive body, consisting of 19 persons. The General Director and the Management Board are accountable to the Board of Directors and the General Meeting of the Shareholders.
The General Director arranges the Company’s everyday activity through his Deputies, Executive Board, and Executive Office services (departments and divisions), structural subdivisions, as well as through authorized representatives of the Company at management bodies in the subsidiary and affiliated companies.