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Corporate Governance
Integra Group adheres to the requirements of applicable law, and is committed to improving its corporate governance procedures and systems in order to foster effective relations between the Board of Directors and management and to act in the best interests of investors.
After the launch of the IPO on the London Stock Exchange in February 2007, Integra Group continues to improve its corporate governance practices, including the organization of the work of the Board of Directors, Management Board and their committees. In June 2008 the Board of Directors approved the Code of Corporate Governance, which in many respects corresponds to the provisions of the UK Combined Code, in accordance with which the Company continues to improve its system of corporate governance.
Currently the Company comprises the following Divisions:
- Drilling, workover & IPM (integrated project management)
- Technology Services
- Geophysics
- Equipment Manufacturing
Subsidiaries that comprise the Group operate as functional business units established in accordance with services rendered or production manufactured. The said Subsidiaries operate under the general management center and report to one Executive Vice President.
The said structure allows the Group to set high corporate management standards, manage the Company in accordance with transparency principles, implement effective risk management systems and internal control tools.
Two entities are overseeing Integra Group: The Board of Directors and The Management Board (Core Executives). Specialized committees are established to assist them in their tasks.
