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National Managing
Holding "Baiterek"

Corporate Management Principles

The principles of management are the key rules to which the Holding adheresin its activity. They allow to provide an efficiency and a transparency in the work of the Holding with the aim to achieve the highest result while performing the tasks in view.

The initial basis for the activity of the Holding serves the Decree of the President from 23 May, 2013 «About some measures on the optimization of a management system through the institutions of progress, financial organizations and the development of national economy».

The Corporate Management

The JSC «National Managing Holding "Baiterek" (further the Holding) in its activity is based on the principles of the modern system of the corporate management. The Holding estimates the corporate management on three basic components as a structure, processes and a transparency.

According to the approved structure of the Holding, the general management of the company’s activity is carried out by the Board of directors which delegates the decision of the problems concerning the company’s current activity to the Board and its Chairman. The duties and the competence of the Board of directors of the Holding include the development and decision-making on the key issues of the perspective progress of the company, adequate to the tasks providing the Holding’s stable progress and the appropriate positions of the Strategy.

In the Holding the Code of the corporate management defining the basic values in the work of the Holding, as well as a basis of its interoperability with the concerned sides operates.

For the definition of an effectiveness of the corporate management system in the affiliated companies the Holding uses its own Procedure of the diagnostics. The procedure is developed on the basis of the standards of the best world practice. The objective of the diagnostics is the increase of the CM level of the Holding’s companies by the structured and consecutive approach to an assessment and progress of their systems of corporate management on the basis of the best practice. The operating Procedure allows to define a rating of the conformity to the best practice of CM and is the tool for the constant monitoring of the process of the perfection of the corporate management inthe Holding’s affiliated organizations.

Report on Comliance with the Principles of the Corporate Governance Code of Baiterec National Management Holding JSC for 2016