Slavneft Again Proved 6+ Corporate Governance Rating
The Russian Institute of Directors has again confirmed the 6+ corporate governance rating of OAO NGK Slavneft. Such score means a developed corporate governance practice under the National Corporate Governance Rating (NCGR) scale. This rating is in effect before June 30, 2016. Score 6+ has been assigned to the Company since 2010 and shows that Slavneft follows requirements of the Russian corporate governance legislation, key recommendations of the Russian Code of Corporate Conduct and certain guidelines of the best international corporate governance practices. The Company is characterized by acceptable risks of owners’ losses related to the corporate governance quality.
The Russian Institute of Directors assesses the corporate governance status of major Russian companies. NCGR is assigned, as soon as independent experts analyze how the companies meet internationally accepted key standards on protection of shareholders’ rights, activity of management and controlling bodies, information disclosure, and consideration of other concerned parties’ interests. Company assessment is based on the analysis of public information sources, including materials posted on corporate websites, quarterly and annual reports, data of news agencies and other mass media.
You can find the more detailed information on the rating assignment procedure on http://www.rid.ru.