The Board of Directors consists mainly of outside directors (not the employees of the Company), professionals who have wide experience in the industry and understanding of the specifics of the nuclear industry and the Company activities.
From January 1, 2017 till September 25, 2017 the members of the Board of Directors were the following persons:
- Barabanov Oleg Stanislavovich;
- Zalimskaya Lyudmila Mikhaylovna;
- Korogodin Vladislav Igorevich;
- Lokshin Aleksandr Markovich;
- Solomon Nikolai Iosifovich;
- Olenin Yuri Alexandrovich.
By the decision of the Sole Shareholder of TVEL JSC No. 40 dated September 25, 2017 the following seven members were elected to the Board of Directors:
- Barabanov Oleg Stanislavovich;
- Zalimskaya Lyudmila Mikhaylovna;
- Korogodin Vladislav Igorevich;
- Lokshin Aleksandr Markovich;
- Olenin Yuri Alexandrovich;
- Solomon Nikolai Iosifovich;
- Nikipelova Natalia Vladimirovna.
By the decision of the Sole Shareholder of TVEL JSC No. 41 dated November 1, 2017, Lokshin Aleksandr Markovich was excluded from the Board of Directors.
Members of the Board of Directors are not shareholders of TVEL JSC. In 2017, members of the Board of Directors committed no transactions on acquisition or alienation of the Company's shares. Information on TVEL JSC shareholding must be disclosed by the candidates to the position of the member of the Board of Directors at the time of filling the consent form for election. Biography of the members of the Board of Directors is available in the interactive version of the Report.
There are no independent members in the Board of Directors within the meaning of the Corporate Governance Code of TVEL JSC.
In accordance with the Articles of Association of TVEL JSC the decision on payment of remuneration to the members of the Board of Directors of the Company falls within the competence of the General Meeting of Shareholders (decision of the Sole Shareholder of TVEL JSC - Atomenergoprom JSC).
No remuneration and compensation of the expenses related to performance of obligations were provided for the members of the Board of Directors of TVEL JSC in 2017. All members of the Board of Directors of the Company get salary according to the place of their primary business.
Report of the Board of Directors of TVEL JSC on the results of the Company development in the priority fields
In 2017, the Board of Directors held 20 absentee meetings and made decisions , on the most important issues of TVEL JSC activity, including:
- approval of the budget and scheduled financial-economical indicators of activity of TVEL JSC;
- approval of recommendations to the Sole Shareholder concerning net income distribution following the results of 2016;
- approval of organizational structure of TVEL JSC;
- approval of recommendations to the Sole Shareholder concerning dividend payment following the results of nine months of the reporting year;
- termination of membership in ALVEL a.s. (ALVEL JSC);
- approval of recommendations to the Sole Shareholder concerning alterations made to the Articles of Association of TVEL JSC and approval of the revised Articles of Association of TVEL JSC;
- the decision was taken to participate in limited liability company "Rusatom - Additive Technologies";
- pre-agreed appointments to the posts directly subject to TVEL JSC President.