OREANDA-NEWS. July 23, 2010. Within the framework of development of the system of corporate governance, the Board of Directors of RAZGULAY Group OJSC (hereinafter referred to as “the Group”, “the Holding”) elected a new Chairman out of the independent members of the Board of Directors. It is R.G. Mirgalimov. Before that the General Meeting of Shareholders of RAZGULAY Group OJSC elected the Board of Directors, in which independent directors constitute the majority, reported the press-centre of RAZGULAY Group.

At the same time, the Board of Directors decided upon division of areas of responsibility within the Holding.

The Board of Directors shall focus on making key decisions on the new long-term corporate strategy of the Group and on the subsequent control over their implementation.

I.V. Potapenko, President of the Group, shall focus on liaising with public authorities and with key business partners of the Group, thus supporting implementation of the strategic initiatives.

V.E. Sukhinov, General Director, shall be in charge of preparation and implementation of the new corporate strategy of the Holding, as well as increasing the day-to-day operating efficiency of the Group. 

The approved structure of responsibility is in accordance with the best worldwide practices; and it is an important step towards further increase in efficiency and transparency of the corporate governance of the Holding.