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

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- exercises the authorities of the individual executive body in stock joint and other companies according to the
procedure provided for by the current RF’s law and relevant agreements;
- other activities not prohibited by federal laws.
Information on the Total Size of Remuneration Paid or to Be Paid for the
Accounting Year
The OJSC MMK’s Shareholders’ Meeting approved the monthly size of the remuneration to be paid for the
Company’s management services in the amount of RUB 17.6 m (VAT exclusive) totalling RUB 211.2 m (VAT exclusive)
on an annual basis. .
Remuneration (wages and salaries) to the employees of OOO MMK Managing Company amounted to RUB 142.9
m in 2007.
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Information on the Management Board
Competence of the Management Board
The following issues are be within the competence of the Management Board:
determination of the Company’s short-term market policies;
decisions regarding any transactions related to the acquisition, disposition or possible disposition, directly or
indirectly, by the Company of assets valued at over 2.5% of the book value of the total Company’s assets based
on its accounting data as of the latest balance sheet date, not referred to the competence of the Company’s
shareholders’ general meeting or the Board of Directors;
organization of the implementation of decisions taken by the General Shareholders’ Meeting or the Board of
Directors;
review of issues to be discussed at the Board of Directors’ meetings;
analysis of the Company’s technological, economic and financial performance indicators, their development for
the period under planning, preparation of the Company’s financial and business operations plan (budget) for
the next financial year and submission thereof to the Board of Directors for approval;
approval of proposals regarding discontinuation of activities (part of activities) related to the manufacture or
sale of goods, rendering of services, etc.;
other issues as provided for the Company’s Charter.
Members of the Management Board
(as of January 01, 2008)
Guennady S. Senichev
(born in 1951) – Chairman
of the Management Board;
Vice-President for Operations
of OOO MMK Managing
Company; first elected member
of the Management Board on
22.04.2005; member of the Board
of Directors of ОАО ММК-Profil’-
Moskva.
Rafkat S. Takhautdinov
(born in 1958) – Vice-President for
Strategic Planning of OOO MMK
Managing Company; first elected
member of the Management
Board on 22.04.2005; Chairman
of the Board of Directors of OAO
MMK-METIZ; member of the
Board of Directors of MMK Atakaş
Metalurji Sanayi, Ticaret ve Liman
İşletmeciliği Anonim Şirketi
Vyacheslav N. Egorov
(born in 1947) – Director of
ZAO Russian Metallurgical
Company; first elected member
of the Management Board on
21.04.2006.