Annual report 2010

9. Corporate Governance System of JSC IDGC Holding9.3. Management BoardThe Management Board, a collegial executivebody appointed by the Board of Directors of JSCIDGC Holding, is in charge of the Company’s dayto-dayactivities. The Management Board performsthe functions specified in the Articles ofAssociation of JSC IDGC Holding and acts inaccordance with the Regulations for theManagement Board of JSC IDGC Holding approvedby the Extraordinary General Meeting ofShareholders of JSC IDGC Holding on December30, 2008.The Management Board of JSC IDGC Holding waselected on December 28, 2009, and is composed ofthe following persons:The Chairman of the Management Board is NikolayNikolayevich Shvets (Director General of JSC IDGCHolding).Members of the Management Board:— Gennady Feliksovich Binko (Deputy DirectorGeneral of JSC IDGC Holding);— Alexei Vladimirovich Demidov (Deputy Direc -tor General for Economic Affairs and Finance,JSC IDGC Holding);— Pavel Ivanovich Oklei (Deputy DirectorGeneral — Chief Operating Officer, JSC IDGCHolding);— Alexei Yurievich Perepyolkin (Deputy DirectorGeneral for Corporate Governance andProperty, JSC IDGC Holding);— Alexei Valerievich Sannikov (Deputy DirectorGeneral of JSC IDGC Holding);— Sergei Vyacheslavovich Vasiliev 6 (Director forLegal Affairs, JSC IDGC Holding).Resolution of the Board of Directors of JSC IDGCHolding No. 44, dated September 29, 2010, terminatedearly the authority of Pavel Ivanovich Oklei,member of the Management Board of JSC IDGCHolding, and elected Mikhail Yurievich Kurbatov,Deputy Director General of JSC IDGC Holding, tothe Management Board of the Company.The Company’s Articles of Association specify thatthe Management Board of JSC IDGC Holding is incharge of the Company’s day-to-day activities,develops the priority areas of the Company’sactivities and long-term implementation plansand internal order documents and submits themfor consideration by the Board of Directors of JSCIDGC Holding, and addresses other issues.In the fiscal period, the Management Board of theCompany adopted resolutions on 307 issues andtook 60 minutes. Specifically, at 18 in-personmeetings, 37 issues were considered, 42 minutescontaining resolutions on 270 issues were takenby ballot.The meetings of the Management Board of theCompany considered a number of critical issues:— Strategy of JSC IDGC Holding Until 2030.— Creation of the Research and EngineeringCenter of JSC IDGC Holding (JSC Researchand Engineering Institute of IDGC).— Target Long-term Renovation Program of JSCIDGC Holding for Primary and AuxiliaryEquipment Broken down by SDC of JSC IDGCHolding.— Strategy for Developing Electricity BillingMetering Across the SDCs of JSC IDGCHolding.— Strategy for Disposing of Noncore Assets ofJSC IDGC Holding and Subsidiaries andDependent Companies of JSC IDGC Holding.— Organization in JSC IDGC Holding and itsSDCs of work aimed at creating/upgradingmetering system in the retail electricity marketin compliance with the uniform technicalpolicy of JSC IDGC Holding in the field of6The stake held by the individual in the authorized capital of JSC IDGC Holding is 0.0014%63