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The IDA Supervisory Board defines the strategic focus for development of the Independent Directors Association, approves the Association’s financial plan and budget, and assesses the work of the executive arm of the IDA.To resolve key strategic issues, the Supervisory Board of the Independent Directors Association convenes six times per year (once every two months).

The IDA Supervisory Board

Chairman of the Supervisory Board:

Members of the Supervisory Board:

“Recently, the demands placed on the activities of private companies by the investment community have been constantly growing.Moreover, Russian companies are striving to enhance their competitiveness and attract new capital. In these conditions, it is vital to find tools for enhancing the effectiveness of management, and to improve quality and standards in doing business.The state facilitates and assists in this process.The Federal Securities Market Commission has developed, and recommended for use, a Corporate Code of Conduct, which places key emphasis on the board of directors and independent corporate directors.

According to the provisions of the Code, an independent director is an important tool for reinforcing the trust of investors, ensuring the optimal functioning of the board of directors and increasing the value of the business.The Code stipulates requirements and criteria for the independence of external directors, and offers recommendations as to the number of such directors.For a board of directors to work efficiently, it should include at least three independent members.

In order to execute these recommendations in practice, people are needed: professionals with strong reputations, capable of competently performing the functions of independent directors.In Russian, the practice of engaging independent directors is at an embryonic stage of development, and many aspects and advantages of the activities of such directors are not fully understood by the public at large. Therefore, from the viewpoint of explaining the role and functions of independent directors, the "bearers" of the most recent knowledge and experience in this field have an important role to play.Today, within the framework of the Independent Directors Association, the leading Russian and international experts have united to render assistance to companies, to increase their management effectiveness.I am confident that this initiative will contribute to the success of Russian business”.

Alexander Ikonnikov,
Chair of the Supervisory Board,
Independent Directors Association