Annual Report & Accounts 2013
Severstal Annual Report 2013 Home > Governance > Corporate governance statement > Sole Executive Body
 

Sole Executive Body

Who is the company’s Sole Executive Body?

The authority of the company’s Sole Executive Body is exercised by the Chief Executive Officer/General Director of the Company.

The CEO is appointed by the company’s GMS for a three-year period and can be re-elected an unlimited number of times. Alexey Mordashov was re-appointed CEO at Severstal’s AGM in 2013. Details are available at www.severstal.com.

The GMS can, at any time, adopt a resolution on the early termination of the CEO’s authorities.

What is the role of our Sole Executive Body and what are its key responsibilities?

The CEO, among other things, acts on behalf of the company, represents its interests, commits to transactions, and approves manning schedules, and issues obligatory orders and instructions for all of the company’s employees.

The CEO carries out day-to-day management of the company and ensures its efficient operation by performing the tasks set by the Board of Directors. The CEO is responsible for the organisation, status and accuracy of accounting practices, the timely provision of appropriate authorities with financial reports, and the timely provision to shareholders, creditors and the media of information regarding the Company’s operations. The Chief Executive Officer also cooperates with trade unions to protect the interests of company employees and communicates with state and municipal authorities.

There are more details on the role of Severstal’s CEO on the page The Board of Directors.

CEO’s activity is regulated by Severstal’s Regulations for the General Director. These Regulations are available at www.severstal.com.

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