| The corporation “crossed” with a design bureau Last week, the top officials of the recently merged aircraft manufacturing companies Irkut and OKB im. A.S. Yakovlev made a symmetrical exchange of powers. The executive director of each company became concurrently the chairman of the board of directors of the other company.
Irkut absorbed Yakovlev in April of this year, purchasing 75.46% of OKB shares. On June 26, in Irkutsk, where the headquarters of the Irkut Corporation is located, a meeting of shareholders and elections of a new board of directors took place. General Director of OKB im. Yakovlev Oleg Demchenko joined this council and became its chairman. A week earlier, the board of directors of Yakovlev elected the president of the Irkut corporation, Alexei Fedorov, as its chairman.
A statement released by Irkut's press service after the meeting said that the corporation had changed the principles of forming the board of directors, consisting of 11 people. As a result, the representation of independent directors on the board has increased. Now there are five of them: President of the Volga-Dnepr-Moscow group of companies Alexey Isaikin, Chairman of the Board of the Baikal Bank of Sberbank Maxim Poletaev, Director of the Federal State Unitary Enterprise Interdepartmental Analytical Center Alexey Ponomarev, General Director of OJSC OKB im. A.S. Yakovlev" Oleg Demchenko and General Director of the International Institute of Construction Vyacheslav Agapkin. In the past there were three “independents”: Messrs. Ponomarev, Demchenko and another Yakovlev delegate, OKB President Alexander Efanov.
The shareholders (including the state, which owns 13.4% of Irkut shares) are represented on the new board of directors by the general director of FSUE Rosoboronexport Sergei Chemezov, the general director of Sukhoi Holding JSC Mikhail Pogosyan, his deputy Alexander Klementyev and vice president "FTC Companies" Nelly Mikhailova.
Finally, the management of the corporation is represented by Irkut President Alexey Fedorov and First Vice President Valery Bezverkhny. Mr. Bezverkhny, who previously served as Chairman of the Board of Directors, ceded this chair to Oleg Demchenko.
As Elena Fedorova, head of the public relations sector at Irkut, said, mostly independent directors will head specialized committees that are created under the board of directors (for strategic planning, budget, audit, etc.). A provision was adopted on the delimitation of the competencies of the president of the joint-stock company and the board.
The meeting of shareholders of the corporation approved the reporting for 2003 and decided to allocate 31.6 million rubles for the payment of dividends, which is 24.2% of net profit for 2003. The remainder of the net profit will be directed to the reserve fund and the corporation's development fund, including for the payment of remuneration to members of the board of directors and the audit commission. Mikhail KUKUSHKIN |
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