President and Management Board

The President and the Management Board are executive bodies in charge of day-to-day operations. The President serves as the Chairman of the Management Board.

The executive bodies are a key element in the Company’s management system ensuring enactment of resolutions adopted by the Board of Directors and the General Meetings of Shareholders and implementation of Nornickel's core corporate plans and programmes, and maintaining the efficiency of risk management and internal control functions.

The Company insures the liability of the Management Board members. The insurance aims to cover potential damages arising from unintended erroneous actions of the Management Board in its decision-making. The terms and conditions of the agreement, as well as the amount of insurance coverage, are consistent with the world’s best practices for such risks.

The President and members of the Management Board are elected for an indefinite period. The Board of Directors may at any time dismiss any member of the Management Board. Since 1 July 2016, the General Meeting of Shareholders has the authority to elect and dismiss the President.

Composition of the Management Board

Changes in the Management Board composition in 2018
Resolution dated Action Full name
12 February 2018 Left the Management Board due to termination of employment contract Alexander Ryumin
8 June 2018 Left the Management Board due to termination of employment contract Elena Bezdenezhnykh
21 September 2018 Left the Management Board due to termination of employment contract Onik Aznauryan
24 December 2018 Joined the Management Board Sergey Barbashev
24 December 2018 Joined the Management Board Alexander Grubman
24 December 2018 Joined the Management Board Sergey Dubovitsky
Name Participation / Number of meetings
Vladimir Potanin 32/32
Marianna Zakharova 32/32
Sergey Batekhin 32/32
Larisa Zelkova 32/32
Nina Plastinina 31/32
Vladislav Gasumyanov 32/32
Sergey Malyshev 31/32
Elena Kondratova 32/32
Andrey Bougrov 32/32
Sergey Dyachenko 32/32
Sergey Barbashev Left the Management Board as per the Board of Directors’ resolution. 0/32
Alexander Grubman Left the Management Board as per the Board of Directors’ resolution. –0/32
Sergey Dubovitsky Left the Management Board as per the Board of Directors’ resolution. –0/32
Alexander Ryumin Left the Management Board as per the Board of Directors’ resolution. 3/32
Onik Aznauryan Left the Management Board as per the Board of Directors’ resolution. 22/32
Elena Bezdenezhnykh Left the Management Board as per the Board of Directors’ resolution. 15/32
Management Board members’ holdings and transactions in the Company’s shares

As at 31 December 2018, the members of the Management Board have no holdings in the Company’s ordinary shares and/or ADRs and did not enter into any relevant sale and purchase transactions in 2018.

Corporate Secretary

The mission of the Corporate Secretary is to ensure compliance with the procedures for the protection of shareholders’ rights and legitimate interests, as prescribed by the applicable laws and the Company’s by-laws, and to monitor such compliance.

Pursuant to the Charter, the Corporate Secretary is appointed by the Board of Directors for a three-year term. The Board of Directors may terminate the powers of the Corporate Secretary prior to their expiration.

In accordance with the Regulation on the Corporate Secretary of PJSC MMC Norilsk Nickel approved by the Board of Directors on 20 April 2015, the Company’s Corporate Secretary has an administrative reporting line to the President and is accountable to the Board of Directors.

At this time, the Corporate Secretary is Mr. Pavel Platov. In the reporting year, Pavel Platov's appointment was extended by resolution of the Board of Directors.

As at 31 December 2018, the Corporate Secretary has no holdings in the Company’s ordinary shares and did not enter into any relevant sale and purchase transactions in 2018.

The Corporate Secretary is responsible for:
  • preparation and running of the General Meeting of Shareholders;
  • making arrangements for and running meetings of the Board of Directors and its committees;
  • contributing to the improvement of the Company's corporate governance framework and practices;
  • managing the operations of the Secretariat;
  • other functions as per the Company's by-laws.