Annual report 2010

9. Corporate Governance System of JSC IDGC Holdingorganizing electricity metering systems; procedurefor consideration and approval by JSCIDGC Holding of Long-Term DevelopmentPrograms for Electricity Metering Systems inthe Retail Electricity Market Across the SDCsof the Holding Company.— Concept and principles of the technical auditsystem of JSC IDGC Holding.— Approval of the Priorities for PurchasingElectric Grid Assets and the Criteria forAdopting Resolutions on the Projects ofConsolidation of Electric Grid Assets.— Progress of work performed at the assetsunder-Olympicconstruction to be commissionedin 2010.— Strengthening of anti-terrorist protection ofthe power facilities of the subsidiaries anddependent companies of JSC IDGC Holding.— Program of activities aimed at controllingthe use of funds allocated from the federalbudget for the implementation of the investmentprojects of the SDCs of JSC IDGCHolding.— Principal areas of raising functional reliabilityof the electricity distribution grid sectorof JSC IDGC Holding and the quality of renderedservices.In the fiscal period, the Management Board memberswere paid remuneration of RUB 98,763,747.9.4. CEOIn accordance with Article 14 of the Articles ofAssociation, CEO of JSC IDGC Holding is in chargeof the Company’s day-to-day activities pursuant todecisions adopted by the General Meeting ofShareholders and the Board of Directors of theCompany within their competence.The competence of CEO of the Company shallinclude all matters related to the management ofthe Company’s day-to-day activities, except forany issues falling within the competence of theGeneral Meeting of Shareholders, the Board ofDirectors, or the Management Board of theCompany.The Articles of Association of JSC IDGC Holdingspecify that CEO has the following functions:— ensure the implementation of the Company’saction plans necessary to attain its objectives;— arrange for keeping the Company’s recordsand accounts;— dispose of the Company’s property, enter intotransactions on behalf of the Company, issuepowers of attorney, and open the Company’ssettlement and other accounts with banksand other credit institutions (and, as providedfor in law, with organizations that areprofessional participants in the securitiesmarket) except where subject to a decisionto be adopted by the Management Board, theBoard of Directors, or the General Meeting ofShareholders of the Company;— issue orders, approve directives, local regulatorydocuments, and other internal documentsof the Company, give instructionswhich shall be binding upon all employees ofthe Company;— approve the Regulations for the Company’sbranch offices and representative offices;— approve the staffing table and officialsalaries of the Company’s employees inaccordance with the organizational structureof the Company’s executive staff;— perform the functions of the Chairman of theCompany’s Management Board;65