Annual report 2007 - Magnitogorsk Iron & Steel Works ...

ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS
SEASON 2007
Peter Charow (born in 1954) – British Petroleum Regional Director for Russia, CIS
and Turkey; USA citizen; first elected member of the Board of Directors on 30.03.2007;
represents a shareholder of OJSC MMK’s, ООО Mekom (trustee); education: 1977:
Bachelor of Arts in Political Science, Swarthmore College, Swarthmore, Pennsylvania,
USA
1981 - Master of Arts in Political Science, Columbia University, New York, New York,
USA.
1986 - Master of Philosophy, Columbia University, New York, New York, USA.
2006 - Executive MBA; Tuck School of Business, Dartmouth College, Hanover, New
Hampshire, USA.
Sir David Logan (born in 1943) - Director of the Centre for Studies in Security
and Diplomacy, Birmingham University; citizen of the United Kingdom; first elected
member of the Board of Directors on 30.03.2007; represents a shareholder of OJSC
MMK, – ООО Mekom (trustee); since 2002 – member of the Supervisory Board of Efes
Breweries International; since 2002, non-executive director of European Nickel plc;
education: Charterhouse and University College, Oxford.
There were no changes in the membership
of the Board of Directors in the accounting year.
Total Amount of Remuneration Paid or to be Paid for the Accounting Year
The OJSC MMK’s Annual General Shareholders Meeting approved the size of remunerations and compensations
to be paid to members of the Company’s Board of Directors in their period of office from April of 2007 through
March of 2008 in the total amount of RUB 60 m. The amount of remuneration and compensations is expected to be
RUB 52.31 m in 2007 – 2008 including:
- in the period from April of 2007 to December of 2007 the actual amount of remuneration and
compensations was RUB 40.21 m;
- in the period from January of 2008 to March of 2008 the amount of remuneration and compensation is
expected to be RUB 12.1 m.
Information on the Company’s
Individual Executive Body
At the Extraordinary General Shareholders’ Meeting of OJSC MMK held on May 26, 2006, it was decided to
transfer the authorities of the individual executive body (CEO of OJSC MMK) under a contract to a managing
company, OOO MMK Managing Company (limited liability company). OOO MMK Managing Company is a 100%
subsidiary of OJSC MMK.
OOO Managing Company was registered on March 06, 2006 by the Inspectorate of the Federal Tax Authority
of the Ordzhonikidzevsky District of the city of Magnitogorsk, Chelyabinsk Region, under Main State Registration
Number 1067445004110, INN 7445028860, KPP 744501001.
The registered address of OOO MMK Managing Company: ul. Kirova 93, Magnitogorsk, Chelyabinsk region,
455000, Russian Federation.
The individual executive body of OOO MMK Managing Company is Mr. Victor F. Rashnikov.
The key objectives of OOO MMK Managing Company consist in the organization of an efficient managing
system, expansion of OJSC MMK’s presence on the steel markets and development and modernization of the
production facilities. To attain the above objectives OOO MMK Managing Company does the following:
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