19.02.2020 18:31

Moscow Exchange recommends candidates for Supervisory Board

On 19 February 2020, the Moscow Exchange Supervisory Board approved a slate of Supervisory Board candidates for the coming year. Eight of the 12 nominated candidates would be Independent Directors, exceeding the requirements of Moscow Exchange’s Listing Rules and the recommendations of the Corporate Governance Code.

Election of a new 12-member Supervisory Board will take place at the Annual General Meeting of Shareholders (AGM) in late April 2020. The AGM date and agenda will be approved at a Supervisory Board meeting in early March, the date of which will be announced in due course. Shareholders holding at least 2% of Moscow Exchange shares may nominate candidates for the new Board by 1 March 2020.

In line with best practice in corporate governance, the Supervisory Board's Nomination and Remuneration Committee has considered the mix of experience, skills and professional reputation of potential candidates for the Board. The Supervisory Board nominated the following candidates to the Board:

  1. Ramón Adarraga, independent adviser. Independent Director candidate.
  2. Paul A. Bodart, professor at the Solvay Business School in Brussels. Independent Director.
  3. Oleg Vyugin, Chairman of the Moscow Exchange Supervisory Board. Independent Director.
  4. Andrey Golikov, Deputy Chairman of the Supervisory Board at Moscow Exchange. Non-executive Director.
  5. Maria Gordon, Independent Director at ALROSA and Polyus. Independent Director.
  6. Valery Goreglyad, Chief Auditor at the Bank of Russia. Non-executive Director.
  7. Dmitry Eremeev, Founder and President, FIX. Independent Director.
  8. Bella Zlatkis, Deputy Chairman of the Management Board at Sberbank. Non-Executive Director.
  9. Alexander Izosimov, CEO, DRC Advisors AB. Independent Director.
  10. Maxim Krasnykh, COO at Gett. Independent Director candidate.
  11. Vadim Kulik, Deputy President - Chairman of the Management Board at VTB Bank. Independent Director candidate.

Nominated by a shareholder:

  1. Anatoly Braverman, First Deputy CEO at Russian Direct Investment Fund. Non-executive director.

Ramón Adarraga, Maxim Krasnykh and Vadim Kulik are independent candidates who are recommended for nomination to the Supervisory Board for the first time.

Oleg Vyugin, Chairman of the Moscow Exchange Supervisory Board:

"The new strategy requires that the Exchange leverage a wider range of expertise and skills, including at the Supervisory Board level. With this in mind, we are proposing that shareholders significantly renew the Supervisory Board, and have nominated for Board seats senior professionals in the fields of IT, financial infrastructure, marketplaces and digital products. It is important to note that eight of the 12 candidates meet the independence criteria, one independent director more than on the current Board; this is one more confirmation of our commitment to best corporate governance practices."

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