Gazprom has built a corporate governance system that conforms to the internationally recognized standards, ensures the full exercise of the Company’s shareholders’ rights, and allows for establishing effective relationships with the shareholders, investors, and other stakeholders.
Gazprom’s corporate governance structure
Corporate governance at Gazprom is primarily exercised by the Company’s management and supervision bodies (the General Shareholders Meeting, the Board of Directors, the Management Committee, the Chairman of the Management Committee, and the Audit Commission) and the External Auditor.
The External Auditor carries out independent reviews of the Company’s financial and business operations.
Gazprom’s Coordinating Committee for Shareholder and Investor Relations was established by the Company’s Order No. 292 dated November 17, 2008, with a view to maintain an open and constructive dialogue with the investment community. Led by Andrey Kruglov, Deputy Chairman of the Management Committee, the Coordinating Committee includes heads of structural units responsible for the development and implementation of the strategy for shareholder and investor relations. The Company’s engagement with the investment community is subject to the annual plans outlined by the Coordinating Committee.
Corporate governance principles
The fundamental principles of corporate governance at the Company are set out in the Code of Corporate Governance (Behavior) of Gazprom approved by the General Shareholders Meeting on June 28, 2002.
Corporate governance at Gazprom is chiefly aimed at ensuring scrupulous respect for the rights of each and every shareholder. The Company’s key corporate documents are based on the principle of fair treatment for all the shareholders and the protection of their rights and interests regardless of their shareholding percentages.