The regular meeting of the board of directors of OAO Nizhnekamskneftekhim was held on May 26, 2011 under the chairmanship of A. Shigabutdinov, general director of PSC TAIF, the chairman of the board of directors of the Company. Issues were considered related to the corporate management and the activity of the board of directors.

The board of directors appointed the members of the management board of the Company under the chairmanship of V. Busygin, general director of OAO Nizhnekamskneftekhim. Also position overlapping was authorized for management members of the Company in the management bodies of any other institutions.

The board of directors approved the plan of activities for years 2011-2012, as well as the members of the relevant committees: auditing committee (chairman is R. Gaizatullin, the minister of finance of the Republic of Tatarstan) and the committee for human resources and rewards (chairman is I. Fardiev, deputy Prime Minister of the Republic of Tatarstan, minister of energy of the Republic of Tatarstan).