Corporate governance

  • Risk management and internal control system
  • External audit
  • Main principles of procurement policy
  • Fighting fraud, corruption, embezzlement and conflict of interests
  • Principles of encouraging managers and Board of Directors Members
  • On Program for managerial staff participation in Gazprom’s equity capital
  • Key Risk Factors
  • Information sharing with shareholders and investors
  • Corporate Secretary

    • Governing bodies

    Articles of Association and regulatory documents

    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

    General Shareholders Meeting
    External Auditor
    approved by General Shareholders Meeting
    Board of Directors
    elected by General Shareholders Meeting, accountable to General Shareholders Meeting
    Audit Commission
    elected by General Shareholders Meeting, accountable to General Shareholders Meeting
    Audit Committee
    elected by Board of Directors, prepares recommendations for Board of Directors
    Nomination and Remuneration Committee
    elected by Board of Directors, prepares recommendations for Board of Directors
    Structural units performing corporate secretary functions
    Board of Directors approves appointment (dismissal) of managerial staff, accountable to Board of Directors
    Internal Audit Department under Management Committee Administration
    Board of Directors decides on appointment (dismissal) of managerial staff, accountable to Board of Directors
    Structural unit responsible for handling insider information
    selected by Chairman of Management Committee, accountable to Board of Directors
    Commission on Strengthening Financial Discipline for Domestic Gas Supplies in Russian Federation
    elected by Board of Directors, prepares recommendations for Board of Directors
    Chairman of Management Committee
    elected by Board of Directors, accountable to Board of Directors and General Shareholders Meeting, leads Management Committee
    Management Committee
    composed by Board of Directors, accountable to Board of Directors, led by Chairman of Management Committee
    Management
    led by Chairman of Management Committee
    Coordinating Committee for Shareholder and Investor Relations
    formed by Chairman of Management Committee, accountable to Chairman of Management Committee

    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. 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 Gazprom are set out in the revised Corporate Governance Code of Gazprom approved by the Company’s General Shareholders Meeting on June 30, 2017.

    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.