Uralsvyazinform approved at a routine board meeting the rules governing four standing committees attached to the Board of Directors – on corporate governance, business strategy, audit and executives/compensation. 

In 2004 the BoD passed resolutions to form four committees, three of which are headed by independent directors not related to majority shareholders.  The above-mentioned rules lay down the purposes and objectives which regulate the operations of the committees. 

Previously the board had approved the Rules for the Corporate Secretary and the Office of the Corporate Secretary of Uralsvyazinform. According to the Rules, “the corporate secretary shall be an authorized individual whose tasks include monitoring compliance by bodies and officials of the Company with the rules and regulations the corporate governance which guarantee that the rights and interests of shareholders are upheld, as well as interaction between the Company and its shareholders”.  

By decision of the BoD, Konstantin Chulakov was named as the first corporate secretary of Uralsvyazinform.  He has been working for Uralsvyazinform since 1997 and has been head of the department for general business issues since 2002.  From 1998 until the new appointment Mr. Chulakov was secretary of the BoD of Uralsvyazinform. 

According to the head of the BoD of Uralsvyazinform and deputy CEO of Svyazinvest, Vadim Belov, these decisions aim to raise the quality of corporate governance and improve the protection of the lawful interests of the company’s shareholders.