As part of our assistance to customers, we give advice on the shaping of a correct and suitable corporate governance system, establishment and efficient operations of a board of directors and its committees, elaborate corporate governance codes, and help in carrying out a set of efforts enabling to bring a corporate governance system to the balance between best practice and corporate interests.
Presence of so-called independent directors on a board of directors is a sign of proper corporate governance.
An independent director is a member of the board of directors who meets independence criteria. In Russia, these are set out in the Corporate Behavior Code of FCSM (currently - Federal Service on Financial Markets).
Presence of independent directors on a board of directors is a suggestion rather than a legal requirement. However, qualified modern investors pay increasing attention to proper composition of a board of directors, in terms of the best applicable practice.
Moreover, with this matter being actively worked on in foreign countries, presence of independent directors on boards is very likely to become a must in Russia, too, soon.
We are committed to advising our customers on the ways of improving the composition of boards of directors, provide services involving recruitment of independent directors and consider options of representation on boards of directors.