Corporate Governance

«One Account Products» planned a two-tier corporate governance structure, comprising a Management Board and a Supervisory Board

The Supervisory Board

The Supervisory Board is responsible for advising and supervising the Management Board and the general course of affairs of «One Account Products» and its businesses. In performing its duties, the Supervisory Board takes into account the relevant interests of the company’s stakeholders, and, to that end, considers all appropriate interests associated with the company. Major business decisions require the approval of the Supervisory Board. The Supervisory Board also supervises the structure and management of systems of internal controls as well as the financial reporting process. The Supervisory Board meets at least four times per year.

The General Meeting of Shareholders determines the number of members of the Supervisory Board.

While retaining overall responsibility, the Supervisory Board assigns certain tasks to its four permanent committees: the Audit Committee, the Nomination and Remuneration Committee, the Related Party Committee and the Strategy Committee. Each committee is composed of at least two members, at least one of whom must be independent within the meaning of the Russian Federation Corporate Governance Code. The members of each committee are appointed by and from the Supervisory Board. The committees operate pursuant to terms of reference established by the Supervisory Board, in accordance with the Russian Federation Corporate Governance Code.

The Executive Team

The Executive team is responsible for «One Account Products»’s overall management and is accountable for the company’s pursuit and achievement of corporate goals and objectives, its strategies and policies. The Executive Committee is responsible for complying with all relevant legislation and regulations, for managing the risks associated with the company’s activities, for financing and external communication.

The Executive team has day-to-day management responsibility for «One Account Products» and comprises members of the Management Board and company executives with business area or functional responsibility, allowing both the functions and the business areas to be represented at the highest levels in the company.

Under the chairmanship of the CEO the members of the Executive team share powers and responsibility for managing the company efficiently and effectively.