OREANDA-NEWS. September 27, 2013. Sberbank of Russia reports the results of the meeting of its Supervisory Board.

Alexey Kudrin was elected as the Chairman for the Strategic Planning Committee of the Supervisory Board. The Strategic Planning Committee carries out preliminary reviews of the issues relating to strategic management of the bank in order to increase its long-term efficiency.

The Supervisory Board approved the amended Regulations on the Committees of the Supervisory Board.

The Supervisory Board took note of the conclusions and recommendations that emerged from the results of an independent evaluation of the efficiency of the Supervisory Board and its committees. Earlier, in accordance with the decision of the Staff and Remuneration Committee of the Supervisory Board, Sberbank decided to appoint international consulting firm Oliver Wyman to review and report on the effectiveness of the Supervisory Board and the committees of the bank for 2012.

This report is the first independent assessment of the effectiveness of the Supervisory Board of Sberbank. The Supervisory Board intends to evaluate its effectiveness on an annual basis, and also to carry out an independent external assessment at least every three year.

“An evaluation in this format is a first for major Russian corporations. It continues the trend of improving corporate governance, to which Sberbank has always paid very close attention,” Herman Gref, President, Chairman of the Board of Sberbank of Russia, noted.

In addition, the Supervisory Board took note of: Sberbank’s financial report for the first half of 2013 and the financial results of the first 8 months of 2013; on the progress in the improvement of the organizational structure of the central office of Sberbank; of the report of Sberbank on the work of the MIS, and; of the results of the audit conducted by the Internal Control Department in the first half of 2013.