2019 Interactive Sustainability Report

Corporate governance system

An efficiently functioning corporate governance system is an important factor in the successful implementation of the strategy and sustainable development.

The Company operates a two-tier model of the governance bodies, which contemplates dividing management functions between the Board of Directors and executive bodies.

The Board of Directors of PJSC TATNEFT performs the key functions for strategic management of the joint-stock company and oversight of the executive bodies, and plays a key role in the process of improving the system and practice of the corporate governance based on the principle of continuity and advanced international standards.

The chief executive officer of the Company is the General Director of PJSC TATNEFT. The collegial executive body of the Company is the Management Board headed by the General Director.

The General Director and the Management Board report to the Board of Directors and the General Meeting of Shareholders. The general oversight of the financial and economic activities of the Company is carried out by the Revision Commission.

Details on the structure of corporate governance in the Company: Annual Report of the TATNEFT Company for 2019, p. 104 

Key performance indicators system

The system of key indicators of the Company is aimed at achieving effective performance in the implementation of the Company's long-term Strategy and operational business planning with the inclusion of ESG aspects.