Corporate governance system
In matters concerning corporate governance, PJSC “Magnit” is guided by the requirements of Russian and UK laws, Moscow Exchange and London Stock Exchange listing rules, the recommendations of the Corporate Governance Code as well as Russian and international best practice in corporate governance and corporate disclosure.
The Company’s corporate governance system is developing fast. Today, it includes all the key components that are standard for major public companies with a developed governance framework. By improving its corporate governance system PJSC “Magnit” aims to reassure its shareholders and investors that the Company scrupulously implements its approved strategy and decisions.
Magnit is consistently improving the level of its compliance with the Corporate Governance Code and systematically benchmarks its compliance with other public companies.
|Corporate governance principles||Number of principles recommended by the Code||2016||2017||2018|
|Complied with||Partially complied with||Not complied with||Complied with||Partially complied with||Not complied with||Complied with||Partially complied with||Not complied with|
|Shareholder rights and equal conditions for shareholders to exercise their rights||13||8||2||3||9||2||2||9||2||2|
|Board of Directors||36||30||4||2||31||3||2||33||1||2|
|Remuneration system for members of the Board of Directors and senior Company executives||10||7||2||1||7||2||1||7||3||0|
|Risk Management and Internal Control System||6||6||0||0||6||0||0||6||0||0|
|Significant corporate actions||5||3||2||0||3||2||0||3||2||0|
A detailed report on compliance with the principles and recommendations of the Code is provided in Appendix 2 to this report.