The General Meeting of Shareholders is the highest management body of the Company.
The general management of the Company's activities is carried out by the Board of Directors of the Company. The obligation of the Board of Directors is to promote the Company's long-term success by directing staff to create and provide sustainable added value for the benefit of shareholders.
The Board of Directors is also committed to its responsibilities, taking into account the impact of its decisions on the Company's various stakeholders, such as the Company's employees, shareholders, partners, the environment and the communities, where the Company's assets are distrubuted. Elaborating the startegy of the Board of Directors and controlling all the stages of implementation, it ensures the effectiveness of the internal control system, so that the Company's growth should be provided in a controlled and self-assured manner.
The Board of Directors conducts the follow-up work directed at the identification, assessment and management of risks related to the social, environmental and ethical issues.
The Board of Directors elaborates the policies and procedures, and the role of the Company's management is to implement the policies elaborated by the Board of Directors and to ensure compliance with those policies. The Board of Directors bears the overall responsibility for evaluating the internal control system and its effectiveness.
The members of the Board of Directors pay frequent visits and communicate with the staff at all the levels. This allows them to see the Company's culture and values in practice. The Board of Directors consistently checks up, questions and examines the logics of the management actions both through the sittings of the Board of Directors and non-official contacts.
The Chairman of the Board of Directors plays a key role in the decision-making of the Board of Directors to ensure the full participation of all the members. This approach enhances the effectiveness of the Board of Directors.
The current activities of the Company are managed by the executive body, the Director of the Company.
The Director of the Company manages the current activities of the Company in accordance with the decisions of the General Meeting of Shareholders of the Company, the Board of Directors, as well as the persons authorized by the Board of Directors of the Company in accordance with their authorities.
The Audit Commission is a permanent internal control body of the Company, which conducts the regular control of the financial-economic activities of the Company, the management bodies and the Company's subdivisions in compliance with the RA legislation, the Company's charter and the Company's internal documents.
