Corporate governance

Public joint stock company “PROTEK” is the parent company of the Group, which consolidates ownership of the shares (stocks) in authorized capitals of its subsidiary and dependent companies.

Consistent implementation of advanced corporate governance standards is among the tools used by the Group to improve its operational efficiency. Following these standards helps to:
  • Provide shareholders with a real opportunity to exercise their rights associated with their participation in the Company
  • Secure strategic management and efficient control over executive bodies by the Board of Directors
  • Provide opportunity to the Company’s executive bodies for reasonable and bona fide management of on-going activities
  • Take into account legal rights of the stakeholders and encourage active cooperation between the Company and the stakeholders
  • Secure efficient control over financial and economic activity of the Company.
Management Bodies
“PROTEK” Group of Companies is a holding company led by “PROTEK”. The management bodies of the parent company of “PROTEK” Group include:
  • General shareholders’ meeting
  • Board of Directors
  • Personal executive body

The general shareholder’s meeting is the supreme management body, which examines annual reports, income and loss statements, distributes income and losses, approves the Company’s auditor, and elects members of the Board of Directors.

The Board of Directors has a broad range of authorities, overall charge within its terms of reference, and controls the activities of executive bodies.

The executive body organizes implementation of decisions made by the General shareholders’ meeting and the Board of Directors and also manages the everyday activities. President is the only executive body of “PROTEK”, who is appointed by the Board of Directors  for the term of two years and is entitled to act on behalf of “PROTEK” without the power of attorney within the limits set forth by the Statutes, such as represent “PROTEK” with the government authorities, enter into transactions on its behalf, sign agreements, issue powers of attorney, dispose of material and financial means, and engage in other actions needed for achieving the goals of “PROTEK”.

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