PJSC LukOil Result of BoD Meeting (9341C)
20 June 2019 - 11:37PM
UK Regulatory
TIDMLKOD
RNS Number : 9341C
PJSC LukOil
20 June 2019
The Board of Directors meeting was held after the Annual General
Shareholders Meeting where Valery Grayfer was elected Chairman of
the newly elected Board of Directors of PJSC LUKOIL. Ravil Maganov
was elected Deputy Chairman of the Board of Directors.
The Board of Directors also recognized Victor Blazheev as an
independent member of the Board of Directors despite the formal
criteria of association with the Company resulting from his service
on the Board of Directors exceeding 7-year tenure. According to the
opinion of the Board this association does not affect his ability
to make independent, objective and bona fide judgements based on
his professional experience and knowledge. This procedure was
carried out pursuant to the Company Charter, the Moscow Exchange
Listing Rules and the Corporate Governance Code.
Among other things it was noted in the resolution that the term
of office of V.Blazheev on the Board of Directors does not exceed
12 years*. Besides V.Blazheev:
- had not been or currently is employed by the Company,
- is not a member of the executive bodies of the Company or its controlled entities,
- does not own any shares in the Company,
- had not received and does not receive any compensation from
the Company or its affiliates other than his remuneration for
performing his duties as member of the Board of Directors and its
committees,
- had not rendered and does not render consulting services to the Company or its affiliates,
- has no affiliation with significant shareholders, significant
counterparties or competitors of the Company, governmental
authorities or municipalities,
- does not represent interests of any particular shareholders.
The Board of Directors formed the committees of the Board of
Directors comprising as follows.
The Audit Committee:
1. Victor Blazheev (Chairman)
2. Pavel Teplukhin
3. Sergei Shatalov
The Human Resources and Compensation Committee
1. Roger Munnings (Chairman)
2. Victor Blazheev
3. Wolfgang Schussel
The Strategy, Investment and Sustainability Committee
1. Sergei Shatalov (Chairman)
2. Toby Gati
3. Ravil Maganov
4. Leonid Fedun
* Pursuant to the Moscow Exchange Listing Rules, a member of the
Board of Directors whose term of office in aggregate exceeds 7
years but does not exceed 12 years may not be deemed associated
with the company if the company's board of directors takes a
relevant justified decision.
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END
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June 20, 2019 09:37 ET (13:37 GMT)
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