The non-profit partnership "Russian Institute of Directors" has once again confirmed the rating of "Rosseti" company at 7++ - "Developed Corporate Governance Practice".
These results confirm that "Rosseti" comply with the requirements of the legislation of the Russian Federation and follow a significant number of recommendations of the Russian Corporate Governance Code. It was also noted that the owners bear low risks associated with this line of business.
“The entirety of "Rosseti" group is aimed at increasing market capitalization, investment attractiveness and creating the most comfortable conditions for shareholders; therefore, management pays paramount attention to the quality of corporate governance. Performed monitoring testifies to the correctness and relevance of the measures being implemented,” commented on the 7++ rating confirmation, Pavel Livinskiy, CEO of "Rossetti".
Experts emphasized that in the estimated period, "Rosseti" approved the Regulation on Dividend Policy by the decision of the Board of Directors; ensured interim dividends payments for the first quarter of 2018 and easy participation for the shareholders in the annual general meeting, including the live broadcast of the event on the corporate website and the possibility of electronic voting; and also held regular managment meetings.
It was specifically noted that in the Board of Directors of "Rosseti" 5 out of 15 members are independent, which meets the Moscow Exchange requirements for issuers of the first level of listing and the recommendations of the Corporate Governance Code of the Bank of Russia.