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Management Board Committees
Seven committees of the Management Board have been created:
Committee for Operational Matters
The Committee is primarily responsible for the day-to-day management of the Group’s commercial contracts and acquisition projects. The Operating Committee is also responsible for analyzing and reviewing business performance and setting forecasts. The Committee for Operational matters carries out heath, environmental and safety statistics and analysis, and decides on any actions that need to be taken to improve administration and general support matters.
Corporate Investment Committee
This Committee is chiefly responsible for the Group’s long-term and annual investment plans and for the approval and monitoring of investment projects.
Financial and Economic Committee
The Financial and Economic Committee is primarily responsible for
- financial planning,
- intercompany resource allocation,
- financial strategy and
- the approval of procedures related to internal controls.
The Financial Committee reviews and approves the monthly cashflow plan, intercompany financings, and quarterly and annual financial reporting. The Financial Committee is also responsible for working capital management and credit risk approval, and for making decisions on any financing transactions with a value below US$10 million.
Committee for Contract Work
The Committee for Contract Work is responsible for all aspects of our procurement strategy, including developing procedures and policies for approving new contracts and monitoring compliance with those procedures and policies.
IT Committee
The Information Technology Committee, which is chaired by Stephen Polakoff, is responsible for
- approving our IT development strategy;
- setting priorities for implementation of IT solutions;
- approving our IT project portfolio prior to approval by the Investment Committee as well as monitoring the realization of principal IT projects;
- approving IT standards; and
- approving our Information Security Policy.
Committee for Compliance with the Rules of the Securities Market
The Compliance Committee, which is chaired by Stephen Polakoff, is responsible for the adoption of decisions on the materiality, timing, format and scope of disclosures, including, but not limited to, the following:
- approving public announcements of material facts concerning the Group’s activities;
- approving internal documents and annual and interim financial statements for the Group prior to their publication;
- determining disclosure dates and periods for the Group;
- compiling a list of employees authorized to make public statements on behalf of the Company and its subsidiaries;
- determining the periods during which employees in possession of insider information are prohibited from concluding transactions with Integra Group shares («closed periods»);
- approving, amending and maintaining lists of persons possessing insider information (as defined by the Disclosure and Transparency Rules) and persons performing management duties; and
- establishing, implementing and monitoring the implementation of procedures to ensure that the Group’s activities comply with the rules of the relevant securities markets.
Organizational Development Committee
The Organizational Development Committee, which is chaired by Dmitry Shulman, is responsible for coordinating the activities of the various departments of the Company in relation to restructurings and protecting the Company’s interests.
