General Director of IDGC of Centre - the managing organization of IDGC of Centre and Volga Region (the companies operate under the brands Rosseti Centre and Rosseti Centre and Volga Region) Igor Makovskiy met with representatives of minority shareholders of both Companies. The meeting was also attended by representatives of the management of the energy companies.

The parties discussed the results of work of IDGC of Centre - the managing organization of IDGC of Centre and Volga Region in the first half of 2019 and plans for the near future. Attention was also paid to the results achieved during the execution of IDGC of Centre of powers of the sole executive body of IDGC of Centre and Volga Region.

Igor Makovskiy in his speech spoke about the results of the completed corporate year, about the formation of governing bodies of IDGC of Centre and IDGC of Centre and Volga Region, as well as the first effects of the management vertical optimization process initiated by him. Among them, he called an increase in the involvement of the management in operating activities, which now allows to increase the efficiency of decision-making.

Speaking about long-term plans, Igor Makovskiy emphasized that the management of the companies intends to pay special attention to improving information transparency and the quality of corporate governance in the future. Important here is the expansion of formats for interaction with shareholders and their representatives on the Board of Directors. As the first step, Igor Makovskiy proposed the creation of an independent advisory body, the Shareholder Relations Board, which will include representatives of shareholders and the management of the Companies. Following the meeting, it was decided to elaborate on this initiative.

“Our fundamental position is to be in constant dialogue with minority shareholders, to increase their involvement in the process of making key decisions for the Company. The creation of the Shareholder Relations Board will be an important step along this path. This will improve the efficiency and effectiveness of feedback for discussing current issues of operating activities and corporate governance. We are confident that their experience and competencies will enable us to take better and defend decisions that determine the activities of the Companies at all levels. Expanding the dialogue between the management and shareholders will help increase the level of trust, which ultimately will positively affect the reputation of the Companies,” emphasized Igor Makovskiy.