On 8 June 2012, JSC VTB Bank Supervisory Council held a meeting, during which it decided to re-elect Sergey Dubinin as Chairman of JSC VTB Bank Supervisory Council.
The Supervisory Council elected the Statutory Audit Commission, Staff & Remuneration Committee, and Strategy and Corporate Governance Committee, and considered other issues relating to the bank’s activity.
In addition, in order to optimize the bank's management system, JSC VTB Bank Supervisory Council approved the reduction in size of JSC VTB Bank Management Board, from 12 members to 10. The Supervisory Council also extended the authority of the following Management Board members until 9 June 2017:
As noted earlier, on 25 April 2012, JSC VTB Bank Supervisory Council voted unanimously to extend the authority of Andrey Kostin as VTB Bank President and Chairman of the Management Board for another 5-year period, until 9 June 2017.