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INVESTORS / CORPORATE
GOVERNANCE
CORPORATE GOVERNANCE
UC RUSAL is developing a corporate governance system that will match the best
practices of international public corporations.
We believe that high-quality corporate governance leads to successful business
development and increases the investment potential of the company, providing
more security for shareholders, partners and customers as well as reinforcing
the company’s internal control systems.
By working with international institutions such as the European Bank for
Reconstruction and Development and the International Finance Corporation, UC
RUSAL is developing its corporate governance standards, based on the principles
of transparent and responsible business operations.
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The Corporate Code of Ethics, which has been used by UC RUSAL for the last 3
years, sets out the company’s values and principles for many of its areas of
operations. Employees from all the production facilities participated in the
development of the Code.
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Preparations are being made to adopt our new Corporate Governance Code.
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UC RUSAL is run by a Board of Directors with collective responsibility for the
company’s operations.
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The Board of Directors is comprised of executive, non-executive and independent
directors.
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The responsibilities of the Chairman of the Board of Directors and the CEO are
clearly defined.
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There are formalised procedures in place for appointments, annual performance
evaluations and the remuneration of the Board of Directors.
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At all times, there are several committees operating on behalf of the Board of
Directors, including the Audit Committee with three independent directors.
High corporate governance standards make it possible to take into consideration
the interests of the shareholders, customers, business partners, as well as a
wide range of non-profit organisations and populations in the countries and
regions where the company’s sites are located. This has a positive impact on
the sustainable development of the business.
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