RUSNANO Board of Directors Held Meeting
OREANDA-NEWS. August 13, 2012. The Board of Directors of RUSNANO met on August 7, 2012, for the first time as a newly constituted body and unanimously elected Vladislav Putilin chairman. The new composition of the Board of Directors had been confirmed by the Federal Agency for State Property Management, known as Rosimushchestvo, in administrative order № 1004-r On Decisions Concerning the Annual General Meeting of Shareholders of Open Joint Stock Company RUSNANO dated June 29, 2012.
Members voted to establish the Audit Committee under the auspices of the Board of Directors of RUSNANO and adopted a resolution on the provisions of that body. The Board of Directors approved the policy on compensation to be paid to members of the Audit Committee.
The new consultative body will be responsible for the following functions:
Control over assessment of corporate risks and effectiveness of internal control
Satisfaction of obligations of the company to disclose financial information
Cooperation with the statutory auditor of the company and overview of information obtained as a result of the statutory audit
Assessment of the effectiveness of the service of internal audit.
The board appointed Seppo Remes chairman of the Audit Committee.
The board directed the Executive Committee along with Mr. Remes to present candidates for appointment to the Audit Committee by October 31, 2012.
Also during its meeting, the Board of Directors terminated the authority of two members of the Science and Technology Board, Veronika Skvortsova and Dmitry Livanov, at their requests. Each had sought release from obligations in connection with recent appointments as minister of healthcare and minister of education and science of the
Nikolai Semenov—director of the Department of Innovation Policy and Science, Ministry of Healthcare of the
Mikhail Filonov—provost for science and innovation at the Moscow Institute of Steel and Alloys, a national university of science and technology.
In accordance with the charter of the company, the Board of Directors of RUSNANO appointed Dmitry Livanov, minister of education and science of the
During their meeting, the Board of Directors heard a report on the closing of a project for mass production of lithium-ion batteries with cathodes of nanosized olivine-based composites. That project had been approved for financing by the Supervisory Council of RUSNANO. The project was terminated because the applicant failed to fulfill a number of conditions precedent required for the performance of financing from RUSNANO.
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