Executive bodies

The Management Board

Executive bodies are in charge of the day-to-day operations of the Company.

Powers of the Management Board and the Chairman of the Management Board – General Director are defined by Articles 18 and 19 of the Company’s Charter, respectively. Executive bodies’ competence include matters that are not reserved to the Company’s General Meeting of Shareholders and the Board of Directors.

The number of the Management Board members is determined by the Board of Directors. In 2018, the Management Board consisted of six members, including the Chairman of the Management Board – General Director.

On December 24, 2018, the Board of Directors elected Victor Khmarin, Deputy General Director for Resources and Prospective Development, as a new member of the Management Board.

Victor Khmarin took office on January 16, 2019. His election was in line with the Company’s focus on resources and future development of RusHydro Group, including the implementation of the Long-Term Program for Replacement of Retired Capacities and Energy System Development in the Far East.

The Management Board’s powers include developing the Company’s business priorities and respective implementation plans and submitting them to the Board of Directors for review, reporting on KPI achievement and business plan implementation, approving budget parameters as regards income and expenditures, deciding on matters reserved to supreme governing bodies of the subsidiaries where the Company exercises the rights of the sole shareholder (participant), as well as approving (adjusting) KPI of the Company’s employees, and reviewing relevant implementation reports.

Powers of the Chairman of the Management Board – General Director include managing the Company’s day-to-day operations, approving internal regulations that are mandatory for all the Company’s employees , exercising employer functions, approving regulations on the Company’s branches and representative offices and appointing heads thereof, making transactions on behalf of the Company within the scope set out in laws and the Charter, arranging for accounting and reporting, arranging operations of the Management Board, as well as address ing other matters of the Company’s day-to-day operations that do not fall within the remit of the General Meeting of Shareholders, Board of Directors or Management Board.