The Board of Directors adopted Corporate Conduct Code of the OJSC Far Eastern Telecommunications Company. This document is aimed at improving corporate management standards and ethical standards of company business conduct.
This Code contains corporate conduct rules and principles to be implemented in company everyday life. These rules and principles will be implemented for the purpose of increasing revenues and company capitalization as well as protection of shareholders’ legitimate rights and interests.
Code rules and principles meet international standards, recommendations of Securities Federal Committee of the Russian Central bank. They are based on advanced standards of corporate management and ethical standards of business conduct common for all business community members.
Sergey Sinenko, head of Securities and Capital Market Department says that in accordance with Code of the OJSC FETEC Board of Directors’ committees will be established in near future in order to make decision-making procedure more transparent and decisions more considered and reasonable. Also it is planned to implement corporate secretary whose tasks will involve control of decision-making by Company executive boards.
The Corporate Conduct Code was examined by the Russian Directors’ Institute