EquityStory.RS, LLC-News: ChelPipe Group
/ Key word(s): Personnel
2 March 2020 PRESS RELEASE
Andrey Komarov re-elected as Chairman of ChelPipe Group
PJSC "Chelyabinsk Pipe Plant" ("ChelPipe" or "the Company"), a leading Russian steel pipe producer and provider of integrated solutions to companies in the fuel and energy sector, today announces the results of the first meeting of the Board of Directors in its new composition on 28 February. Andrey Komarov was re-elected as Chairman of the Board of Directors, and also elected as Chairman of the Corporate Governance Committee. Both decisions were unanimously passed by the Board.
The new composition of the Board is as follows:
The three independent directors will oversee three of the four Committees of the Board of Directors: Douglas Gardner will chair the Audit Committee, Regina von Flemming will chair the Nomination and Remuneration Committee, and Vadim Makhov will chair the Strategic Planning Committee.
In addition, Michael Ruckman, President and Managing Director of Senteo Inc. and an international authority on customer experience management and client-centric business transformations, has joined the Strategic Planning Committee.
During the meeting, the Board also reviewed ChelPipe Group's financial results for 2019, and approved the budget for 2020 and the Company's new organisational structure. The new structure has been developed by management in line with the vision for ChelPipe Group's strategic development, and is designed to support the implementation of key initiatives set out in the Company's five-year strategy.
Andrey Komarov, Chairman of the Board of Directors of ChelPipe Group, commented:
"ChelPipe Group is adopting best practices to improve its corporate governance: not only do independent members of the Board head three of the four Board Committees, but two Committees - the Audit Committee and the Nomination and Remuneration Committee - are entirely composed of independent directors. The new composition of the Board will help to support the strategic development priorities of ChelPipe Group, as well as to ensure effective management that will further promote the sustainable growth of the company and strengthen its investment case. I am confident that all members of the Board will continue to prioritise a balance of interests among our stakeholders, including customers, investors, shareholders, employees and society as a whole."
Andrey Komarov is a shareholder of ChelPipe Group, Co-Chairman of the Pipe Industry Development Fund, and Honorary Metallurgist of the Russian Federation. He is the main author of ChelPipe Group's METAllurgy corporate philosophy and the initiator of the Future of METAllurgy educational program, which has been recognised as a top personnel training program by the Russian Ministry of Education and Science, the Agency for Strategic Initiatives and the National Agency for Qualification Development. He is involved in numerous social and charitable activities in the regions where the Company operates.
Head of ChelPipe Group's press service
+7 495 775-35-55 ext. 44 89
+7 982 610 85 07
+7 985 410 35 44
About ChelPipe Group
02.03.2020 MSK Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
|5, Lesnaya St., Bld. V|
|Phone:||+7 (495) 775 35 55|
|Listed:||Foreign Exchange(s) Moscow|
|EQS News ID:||987275|
|End of News||EquityStory.RS, LLC News Service|
987275 02.03.2020 MSK