Corporate governance principles
FESCO PJSC recognizes that effective corporate governance is one of the most important factors in the stability and successful operation of the Company, given the importance of maintaining high standards of corporate governance and business ethics for successful business operation. The most important aspect of the corporate governance system is effective engagement with shareholders, investors and other stakeholders.
In accordance with the Corporate Governance Code of FESCO, the main principles of corporate governance in the Company are:
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The principle of responsibility, accountability and delineation of powers.
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The principle of guaranteeing the rights and interests of shareholders.
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The principle of market approaches to execution of transactions.
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The principle of a reasonable balance between information transparency and protection of the Company's commercial interests.
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The principle of effective relations with subsidiaries (controlled entities).
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The principle of reasonable profit distribution among the shareholders of the Company.
Corporate governance and supervision bodies of the Company
The scheme of management and supervision bodies of the Company

The Board of Directors is the governing body of the Company in charge of the general management of its activities. The Board of Directors determines the Company’s strategy, exercises control over the activities of the executive bodies, the efficiency of the internal control system and the risk management process. The Board of Directors acts within the scope of its powers determined by the Company’s Charter.