On 2 July 2013, VTB Bank completed the election of its new Shareholders Consultative Council. Over 850 shareholders took part in the voting which began on 10 June. The bulk of the ballots were filled out at the Annual General Meeting on 28 June in St Petersburg. Shareholders could also vote at VTB shareholder liaison centres and online at the VTB website.
All VTB shareholders listed on the shareholders’ register as of 13 May 2013, including individuals and legal entities, were entitled to vote. The number of shares owned did not influence the number of votes. VTB processed votes from 829 shareholders, while 49 ballots were invalidated. Preliminary results were published on the VTB website and updated on a daily basis.
"The Consultative Council has proved its effectiveness, growing into an important tool for VTB’s interaction with shareholders," First Deputy President and Chairman of the Management Board Vasily Titov said. "This is evidenced by how actively they voted and how a group of front runners emerged in the voting process. Shareholders split their votes for the tenth and final seat on the council between three different candidates, so we decided to expand the council to 12 members. I am confident that this was a fair solution which will make the council even more effective."
Based on the election results, the Shareholders Consultative Council comprises the following members:
The new Consultative Council will hold its first meeting later this month.