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Alexey Mordashov, Chairman of the Board of Directors of Severstal, one of the world's largest vertically integrated steel and mining companies, has been named Chairman of the Board of Directors: development of corporate governance at the Director of the Year Awards.
The Director of the Year awards are presented by the Association of Independent Directors and the Russian Union of Industrialists and Entrepreneurs, in partnership with the Moscow Exchange, PwC and Sberbank. The awards recognise the personal contribution of Board Directors to ensuring that Russian companies meet the highest standards of corporate governance. The award ceremony was held in Moscow on the 28th of November.
Alexey Mordashov, Chairman of Severstal, said: "I would like to thank the organisers of this award for promoting high standards of corporate governance and driving forward business development in Russia. I am delighted that this reputable panel of experts has acknowledged the contribution Severstal is making in this important area. This award is a result of great team work, so I would like to personally thank my colleagues on the Board of Severstal for establishing such high-quality corporate management as well as all of the Company’s employees for their hard work and commitment."
The winners are selected by a council of experts, comprising 22 representatives from [national/international] regulators, leading Russian corporations, the investment community, professional associations, and previous award winners. At the first stage, the lists for the 50 best independent directors, 25 best chairmen of directors and 25 best corporate secretaries are drawn up, from which the Expert Council shortlists candidates. When evaluating candidates for the Chairman of the Board of Directors award, the Expert Council looks at the nominees’ role on the board of directors, their company’s progress in corporate governance, the effectiveness of the organization and their company’s transparency.
The Expert Council noted that in the role of the Chairman of the Board of Directors, Alexei Mordashov "established an effective working environment, ensured regular strategic discussions and introduced a client-oriented corporate culture". The Board of Directors is formed on the principles of independence and professionalism, and regular and effective communication of the Council and the company with investors.
Alexander Shokhin, the President of the Russian Union of Industrialists and Entrepreneurs, presented the award to Alexey Mordashov.
Alongside Alexey Mordashov, members of the board of directors of Severstal; Alexander Auzan, Alun Bowen, Philip Dayer and Vladimir Mau, were also recognised. They were included in the list of Top 50 Independent Directors. Artem Bobulich, corporate secretary of Severstal, was included in the 25 best corporate secretaries.