Annual report 2010

Company’s Board of Directors.6 Nominees are mandatorily present at the general meeting ofshareholders ad dressing the el ection o f m embers o f t heboard of d irectors, th e d irector g eneral, m embers o f th emanagement board, a nd m embers of th e internal au ditcommission, and th e ap proval o f th e auditor o f th e jo intstockcompanyComplianceThe la ws o f th e Russian Fe deration d o n otprescribe that such nominees be mandatorilypresent at th e g eneral m eeting o fshareholders.In a ccordance w ith s ubparagraph 27 ofparagraph 11.1 of A rticle 11 of t heCompany’s Ar ticles of A ssociation, theelection ( appointment) o f th e Dir ectorGeneral of the Company and members of theManagement Board and the early terminationof their powers fall within the competence ofthe Board of Directors of the Company.In accordance with paragraph 2.3 of Article 2of t he R egulations fo r t he P reparation a ndHolding Pr ocedure f or th e Gen eral M eetingof Shareholders of t he C ompany, t hepresidium of t he G eneral Meeting o fShareholders is c omposed o f the Dir ectorGeneral of the Company and members of theBoard of Directors.Pursuant to paragraph 2.11 of Article 2 of theRegulations for the Preparation and HoldingProcedure for the General Meeting ofShareholders o f th e Co mpany, the GeneralMeeting of Shareholders may be attended bythe Company’s Director General, members ofthe C ompany’s Management Boa rd, t heheads of the Company’s divisions, membersof t he Company’s I nternal A uditCommission, t he Auditor of t he Company,members o f t he C ommittees of t he