RBC’s Board of Directors determines priority lines of business, elects Executive Board, HR and Remuneration Committee members
Moscow, December 2, 2010 — At a meeting held on December 1, 2010, the Board of Directors of OJSC RBC-TV Moscow considered the issue of determining top priority lines of business for the company for 2011-2013.
The Board of Directors unanimously approved the following top priority areas:
- Focusing business operations in the segments in which the company boasts competitive advantages and maximum growth potential: Internet and television;
- Efficiently developing the existing business lines: keeping sales teams and marketing departments focused on above-the-market sales growth and the effective promotion of the company’s products, cutting costs and expenses;
- Combining organic growth and an M&A strategy;
- Improving financial management by implementing contemporary IT systems in order to enhance the efficiency of operations and management decisions made;
- Boosting the quality of corporate governance and improving the practices of investor relations to meet global standards;
- Selling assets that are of no strategic interest;
- Obtaining a listing on an international stock exchange.
The meeting also passed a decision to set up an HR and Remuneration Committee of the Company’s Board of Directors, which will be responsible for issues that pertain to RBC’s human resources policy. Valery Senko (Chairman of the Committee), Michael Hammond and Sergei Lavrukhin were elected to the Committee. Additionally, the meeting also elected members to RBC-TV Moscow’s Executive Board which now includes German Kaplun (Chairman of the Executive Board), Dmitry Belik, Artyom Inyutin, Sergei Lukin and Evgeny Shishkov.
In another development, the Board of Directors considered the preliminary budget for 2011 and resolved that the issue of approving the final 2011 budget should be included on the agenda for the next meeting of the Board of Directors to be held in the form of joint attendance, which is scheduled for mid-February 2011.