Members of the Board of Directors
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MANAGEMENT SYSTEM The purview and work procedure of the Board of Directors MEMBERS OF THE BOARD and existing corporate procedures allow for adopting OF DIRECTORS decisions on a substantial portion of items with a simple majority of votes by members of the Board of Directors. The structure of the Company’s Board of Directors ensures At the same time, the Chairman of the Board of Directors the duties entrusted to it are performed in the most takes into account the opinion of each member of the Board efficient manner possible. The Board of Directors is elected of Directors during the discussion of agenda issues and takes with 13 members. In accordance with the share capital measures to achieve a common opinion on key items. structure (95.68% of the total common shares belong to Gazprom PJSC), the vast majority of members The Chairman of the Board of Directors in 2017 was non- of the Gazprom Neft PJSC Board of Directors are elected executive director Alexey Miller, who is not a member of any upon recommendation by the controlling shareholder – committees under the Board of Directors. The concurrent Gazprom PJSC. Of the 13 members of the Board of Directors, participation by Chairman of the Board of Directors Alexey ten are non-executive directors who are representatives Miller in the work of the boards of directors of other of the main shareholder, two are independent directors, companies and his performance of official duties as Chairman and one is the Company’s executive director. Gazprom of the Gazprom PJSC Management Board in the Company’s Neft focuses on the criteria for independence enshrined view has not in any way affected his effectiveness in the Code of Corporate Governance of the Central Bank in performing his functions and duties on the Gazprom Neft of the Russian Federation. PJSC Board of Directors. CORE COMPETENCIES OF THE BOARD OF DIRECTORS THE GAZPROM NEFT Law and Public and Finance corporate Risk government Strategy and audit Oil and gas governance management relations Member of the Length of service on the Board of Directors Board of Directors 5 8 6 3 2 5 13 years (since 2005) A. B. Miller 13 years (since 2005) A. V. Kruglov 13 years (since 2005) K. G. Seleznev 11 years (since 2007) V. A. Golubev 11 years (since 2007) A. V. Dyukov 10 years (since 2008) N. N. Dubik 9 years (since 2009) V. I. Alisov 7 years (since 2011) V. V. Cherepanov 6 years (since 2012) E. V. Mikhailova 6 years (since 2012) V. P. Serdyukov 5 years (since 2013) M. L. Sereda 5 years (since 2013) S. A. Fursenko 4 years (since 2014) M. M. Garayev GAZPROM NEFT І ANNUAL REPORT І 2017 126 // 127 The Board of Directors is balanced in terms of its members BALANCE OF THE BOARD OF DIRECTORS BY TYPE OF DIRECTOR possessing the key skills that are essential for effective work and their continued work on the Board. The members Name Non-executive Independent of the Board of Directors have skills in strategic management, A.B. Miller corporate governance, corporate finance, risk management V.A. Golubev and accounting as well as knowledge specific to certain areas of the Company’s business. A.V. Kruglov N.N. Dubik The existing structure of the Board of Directors ensures K.G. Seleznev it has an appropriate level of independence from Company A.V. Dyukov management to provide proper control over the latter’s work. V.I. Alisov Gazprom Neft has a transparent procedure for electing members of the Board of Directors, specifically: V.V. Cherepanov The Company provides shareholders with two months M.L. Sereda to nominate candidates for the Board of Directors S.A. Fursenko (legislation stipulates one month); Y.V. Mikhailova The Company discloses information about the current members of the Board of Directors and candidates V.P. Serdyukov for the Board of Directors in advance; M.M. Garayev The Company regularly interacts with the depository bank that issues depository receipts; The number of members of the Board of Directors is optimal The Company employs the principle of cumulative voting for the Company’s current goals, objectives and industry for the election of members of the Board of Directors practices and allows for ensuring the necessary balance and explains its procedures; of competence among members of the Board of Directors. The Company announces the voting results on matters with an indication of the quorum and the persons who The concurrent participation by members of the Board voted for each option; of Directors in the work of the boards of directors The Company publishes minutes of the General Meetings of other companies has not in any way affected of Shareholders on its official website. their effectiveness in performing their functions and duties on the Gazprom Neft PJSC Board of Directors All members of the Company’s Board of Directors have a solid professional reputation, substantial experience Members of the Board of Directors are elected via working at the Company and regularly interact with Company a transparent procedure that enables shareholders management, its structural units as well as the registrar to obtain sufficient information about candidates so that and auditor in the performance of their functions. they can form an opinion on their personal and professional qualities. Information about candidates for the Board The Board of Directors is balanced in terms of age of Directors is conveyed to stakeholders via the publishing with directors aged 40 to 60 making up 77% of the Board of a material event immediately after the minutes members. are compiled for the meeting of the Board of Directors at which this issue was considered. Comprehensive BALANCE OF THE BOARD OF DIRECTORS BY AGE information about the candidates is subsequently published Source: Company data on the Company’s website in Russian and English 30 days prior to the General Meeting of Shareholders at which the election of the Board of Directors is on the agenda. 3 Under age 45 PERSONS 5 Age 46–55 13 3 Age 56–65 2 Age 66 and older MANAGEMENT SYSTEM MEMBERS OF THE BOARD OF DIRECTORS AS OF 31 DECEMBER 2017 Interest in charter capital Alexey Borisovich (as of 31 December 2017) Does not own company shares Miller Chairman of the Board of Directors Biographical information 2013 – Member of the Supervisory Board of the Global Energy Association Graduated from Voznesensky Leningrad Institute of Finance and Economics. for the Development of International Research and Energy Projects; 2013 – President and Chairman of the Board of the New Gas Industry 2001 – Chairman of the Management Board of Gazprom PJSC. Technologies Association of Equipment Manufacturers; 2002 – Deputy Chairman of the Board of Directors of Gazprom PJSC. 2013 – Member of the Board of Trustees of Lomonosov Moscow State Candidate of economic sciences. University Federal State Budget Educational Institution of Higher Professional Education; Positions held at other organisations: 2013 – Member of the Management Board of the Russian Union 2003 – Chairman of the Board of Directors of Gazprombank JSC; of Industrialists and Entrepreneurs National Association of Employers 2003 – Chairman of the Board of Directors of SOGAZ JSC; 2013 – First Deputy Chairman of the Board of Trustees of the Russian 2007 – Chairman of the Board of GAZFOND Private Pension Fund; Cycling Federation National Public Organization»; 2007 – Chairman of the Board of Directors of Gazprom-Media 2014 – Chairman of the Board of Trustees of the St. Petersburg State Holding JSC; University of Economics Federal State Budget Educational Institution 2008 – President of the Board of Directors of Shtokman Development AG; of Higher Education; 2010 – Chairman of the Supervisory Board of Gazprom Neft International 2014 – Member of the Board of Trustees of the Connection Deafblind S.A.; Support Charitable Foundation; 2012 – Chairman of the Board of Directors of Russian Hippodromes OJSC; 2015 – Member of the Board of Trustees of the Russian Academy 2012 – Member of the Board of Trustees at the Higher School of Education Federal State Budgetary Institution; of Management of the St. Petersburg State University Federal State 2016 – President, Chairman of the Board, and Chairman of the Presidium Budget Educational Institution of Higher Education; of the International Business Congress (IBC); 2012 – Member of the Board of Trustees of the Russian Geographical 2017 – Member of the Board of Trustees of National Research University Society All-Russian Public Organization; Higher School of Economics Federal State Autonomous Educational 2012 – Member of the Board of Trustees of the Charitable Foundation Institution of Higher Education; for the Restoration of the Resurrection New Jerusalem Stauropegic 2017 – Member of the Board of Trustees of the Doctors, Innovations, Monastery of the Russian Orthodox Church; and Science for Children Foundation for Support and Development 2012 – Member of the Board of Trustees of the Association of Lawyers in Paediatric Haematology, Oncology, and Immunology. of Russia All-Russian Public Organization; Interest in charter capital Valery Alexandrovich (as of 31 December 2017) Does not own company shares Golubev Member of the Audit Committee of the Board of Directors Biographical information 2006 – Member of the Supervisory Board of KazRosGaz LLP; Born in 1952. 2007 – Chairman of the Supervisory Board of Moldovagaz JSC; 2007 – Member of the Board of Participants of International Consortium Graduated from Ulyanov (Lenin) Leningrad Electrotechnical Institute for the Management and Development of the Gas Transportation