Conditions for assembling the Board of Directors and candidate selection criteria [GRI 102-24]
The Board of Directors should be formedClause 2.1 of the Regulation on the PJSC Inter RAO Board of Directors. in such a way so as to ensure a balance of professionalism, knowledge, and experience in order to properly fulfill the duties of the members of the Board of Directors in the Company’s interests taking into account the Company’s Development Strategy. Members of the Company’s Board of Directors should have a renowned high reputation, including among investors, and should not have a conflict of interest with the Company.
Candidates for the Board of Directors must meet at least one of the following criteria:
- Be recognized as experts in such fields as the power industry, finance, law, strategic management, audit, risk management, HR management, corporate governance, production modernization, innovation, or investment
- Have experience working on boards of directors or in senior positions at other joint-stock companies whose shares are traded on organized trading floors (stock exchanges), including at international companies
Members of the Board of Directors must have an impeccable reputation. One of the factors that negatively affects a member’s reputation would be an economic crime, a crime against public order, the interests of public service, or service in local authorities, or an administrative offense, especially in business, finance, taxes and fees, or the securities market.
Each year, the Nomination and Remuneration Committee conducts an assessment of all candidates nominated for the Board of Directors in terms of their compliance with the established criteria as well as the independence criteria defined by the securities market regulator and PJSC Moscow Exchange.