OREANDA-NEWS. OJSC KAMAZ’s annual general meeting chaired by Sergey Chemezov, CEO of Rostec, Chairman of KAMAZ’s Board of Directors, has taken place in Naberezhnye Chelny.
The meeting considered the company’s results for 2013. In particular, an annual report and financial statements of OJSC KAMAZ, new versions of the company’s internal documents were submitted for consideration and approval, decisions were taken to approve interested party transactions.
The meeting approved allocation of OJSC KAMAZ’s profits for 2013. It was decided to distribute the net profit of OJSC KAMAZ in the amount of 2,055,825,473 (two billion fifty-five million eight hundred twenty-five thousand four hundred seventy-three) roubles in the following way:
5% of the profit, or 102,791,274 (one hundred two million seven hundred ninety-one thousand two hundred seventy-four) roubles, to form an emergency fund of OJSC KAMAZ;
520,910,119 (five hundred twenty million nine hundred ten thousand one hundred nineteen) roubles to cover losses of past years;
205,582,547 (two hundred five million five hundred eighty-two thousand five hundred forty-seven) roubles to pay dividends on OJSC KAMAZ’s shares for its financial and economic activity in 2013;
1,226,541,533 (one billion two hundred twenty-six million five hundred forty-one thousand five hundred thirty-three) roubles to finance an investment programme.
Sergey Chemezov, Chairman of OJSC KAMAZ’s Board of Directors, CEO of Corporation Rostec, noted conditions which, to his mid, predetermined the company’s success last year. “KAMAZ has started implementing a large-scale modernization programme which is the most significant one for the company’s history,” he said. “In the next five years, it is planned to invest 62 billion roubles, according to this programme. Today, special attention is paid to expanding the model range and strengthening KAMAZ’s positions on foreign markets, including Indian, Asian-Pacific regions, in particular, in Indonesia, and also in Latin America and Eastern Africa. The company managed to improve its position in the rating of global heavy truck makers. Changes are, to a great extent, the result of cooperation between KAMAZ and Daimler thanks to which the company has access to the latest technologies.”
Considering issues on the agenda at the annual general meeting, the participants chose new members of the company’s representative boards by cumulative voting – the Board of Directors and the Auditing Board of OJSC KAMAZ. The new members of the Board of Directors are Arvid Tuerkner, Director for Regional Development, Russia, the EBRD, and Gerald Jank, Vice-President for Development, Daimler Trucks Russia, Daimler AG. They will take the posts of Matthias Grьndler responsible for Finance and Controlling Daimler Trucks and Daimler Buses, and Ilkka Seppo Salonen, Chairman of the Management Board of BANK URALSIB, who will leave KAMAZ’s Board of Directors.
President of Tatarstan Rustam Minnikhanov, Deputy CFO of Rostec Igor Zavyalov and Deputy CEO of Rostec Sergey Skvortsov, Chairman of Vnesheconombank Vladimir Dmitriev, Managing Director of ZAO Sberbank CIB Ruben Vardanyan, Head of Daimler KAMAZ Alliance Office of Daimler AG Achim Puchert, other KAMAZ board directors and guests participated in the AGM of OJSC KAMAZ.
The final results of the voting on all issues on the agenda of the AGM will be published within the term set forth by Russian legislature.