Sole Executive Body / Corporate Governance / Governance / TVEL JSC 2017 Annual Report

Target indicators of strategic growth and complex programs of efficiency increase approved by the governance bodies of TVEL Fuel Company’s subsidiaries are based on optimization of production functional structure and costs reduction due to introduction of new and modernization of current production units, technological process improvement, implementation of efficient system of labor motivation, restructuring of non-profile assets and production units

During the period from 01.01.2017 till 25.09.2017, in accordance with the decision of the Sole Shareholder the functions of the Sole Executive Body were imposed on the President of TVEL JSC - Olenin Yuri Alexandrovich.

Yuri Alexandrovich Olenin does not hold any shares of TVEL JSC. In 2017, he committed no transactions on acquisition or alienation of the Company's shares.

Starting from 26.09.2017, in accordance with the Articles of Association of TVEL JSC by the Resolution of the Sole Shareholder of the Company and on the ground of the Contract executed with the Company the functions of the Sole Executive Body are performed by the President of TVEL JSC - Natalya Vladmirovna Nikipelova .

Natalya Vladmirovna Nikipelova holds no shares of TVEL JSC. In 2017, she committed no transactions on acquisition or alienation of the Company's shares.

In accordance with the contract concluded between TVEL JSC and the President of TVEL JSC, the amount of remuneration following the year results shall be determined by the resolution of the Board of Directors according to the financial-economic performance of the Company and the key performance indicators (KPI) percentage of the President of TVEL JSC. Key Performance Indicator Card includes 11 indicators. For the information concerning achievement of indicators please refer to the Section "Financial Results".