Role and accountability of Executive Bodies

Role of the Executive Bodies

The Company’s executive bodies are the Chief Executive Officer (CEO) and the Executive Board, which are responsible for managing the Company’s ongoing operations.

The executive bodies play a key role in managing the Company, ensuring:

  • achievement of strategic goals and objectives as defined by the Company’s Board of Directors;
  • implementation of the Company’s long-term plans and programmes;
  • implementation of resolutions adopted by the Board of Directors and the general meeting of shareholders;
  • development and support of an efficient risk management and internal control system;
  • personnel management, motivation and incentives, HR planning;
  • management of the Company’s branches and subsidiaries.

Accountability of Executive Bodies

The CEO and the Executive Board report to the general meeting of shareholders and the Board of Directors and provide regular reports on their activities helping to assess the performance and efficiency of the Company’s executive bodies.

To ensure accountability of the Company’s executive bodies, the Board of Directors:

  • elects the Company’s CEO;
  • determines the number of the Executive Board members;
  • elects members of the Executive Board as proposed by the Company’s CEO;
  • determines the term of office for the Company’s executive bodies;
  • determines the terms and conditions of employment contracts with the CEO and the Executive Board members;
  • approves overlapping and other paid positions held by the CEO and members of the Executive Board in the executive bodies of other organisations;
  • reviews reports on performance of the executive bodies.

Petr Baskakov has been the CEO of TransContainer from 2006 to 27 June 2018. His authorities were prematurely terminated by the Board of Directors resolution dated 28 June 2018 (Minutes No.3 dated 29 June 2018).

Since 29 June 2018, Vyacheslav Saraev is the Company’s CEO elected for 1 year, to 1 July 2019.

The Executive Board of TransContainer was established in November 2014. For the current membership of the Company’s Executive Board see p. 109.

Vyacheslav Sarayev, the Company’s CEO, acts as the Chairman of the Executive Board.

The responsibilities of the Company’s Executive Board and CEO are set out in the Charter, Regulation on the Executive Board and Regulation on the CEO of TransContainer.