Principles and Approach
Our approach
Our corporate governance framework is designed to take into account and balance the interests of shareholders, the Board of Directors, management team, employees other stakeholders.
We comply with the applicable laws of the Russian Federation and principles set forth in the Corporate Governance Code that has become the main source for the development of the Company’s by-laws and a guidance to nurture the best corporate governance practices.
In the field of corporate governance, Nornickel follows the requirements of current Russian legislation, the Moscow Exchange Listing Rules, and the Corporate Governance Code recommended by the Bank of Russia (hereinafter referred to as the Corporate Governance Code).
Our principles
Our key corporate governance principles:
- Equitable and fair treatment of every shareholder
- Support for the shareholders to let them exercise their rights and lawful interests in the most reasonable and convenient manner
- Professionalism and leadership of the Board of Directors, and involvement of independent directors in governance
- Strategic management by the Board of Directors, its efficient control over executive bodies, and oversight of the risk management and internal control framework
- Sound, bona fide and efficient management of the Company’s day-to-day operations by executive bodies accountable to the Board of Directors and the General Meeting of Shareholders
- Strong business ethics
- Zero tolerance to corruption
- Full, transparent, reliable and timely disclosure
- Robust risk management and internal controls
- Commitment to sustainability principles