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VTB shareholders elect members of the Consultancy Board

16 July 2009

JSC VTB Bank’s shareholders have elected members of the Consultancy Board, the Bank`s independent body established to ensure efficient feedback between VTB and its minority shareholders.

The following persons have been elected members of VTB Bank Consultancy Board:

  1. Oleg Yu. Anisimov, Editor-in-chief, Finans magazine;
  2. Tatyana B. Buravtseva, Head of Business Development Department, Elf Market;
  3. Leonid V. Volkov, Associate professor for the Economics and Crisis Management Department of the Finance Academy;
  4. Sergey A. Gavrilov, Deputy Chairman of the State Duma Transport Committee;
  5. Elena V. Popova, Professor of Russian Academy of Sciences;
  6. Vasily V. Sidorov, Chairman of the Board, Telecom Express;
  7. Vladimir A. Tarachev, Co-Chairman of the Consumers Union of Russia;
  8. Dmitry A. Udalov, Organizer of the minority shareholders union;
  9. Gleb G. Fetisov, Chairman of Macroeconomic Regulation and Planning Department, Lomonosov Moscow State University;
  10. Anatoly V. Shuyskiy, Chairman of Russian Business Analysts Association.

All VTB individual shareholders aged over 21 were allowed to run for membership in the Consultancy Board. In order to participate in candidate selection, shareholders had to send an application for membership in the Board. Applications were accepted from 1 May to 5 June 2009. Out of 186 applications, the independent jury selected 30 contestants for 10 seats in the Board.

From 19 June to 8 July 2009, shareholders voted for candidates selected by the jury. 3190 shareholders took part in the voting, which accounts for 1.934 per cent of the total number of shareholders as of 13 May 2009 (record date for participation in the General Shareholders’ Meeting). Shareholders, who wished to vote for candidates for the Board, submitted original copies of the ballots signed personally (or by their authorized representative) to VTB Investor Relations and Capital Raising Division by mail, or through Shareholder Relations Centers or through ZAO TSOR branches. Voting ballots were also accepted at the General Shareholders’ Meeting.

Andrey Kostin, VTB President and Chairman of the Management Board, said: “The establishment of the Board is a logical step in developing relations between VTB and its shareholders. We are becoming increasingly transparent for all categories of our investors. Representatives of the most diverse economy spheres have become members of the Board, and I am confident that these people will be able to represent the interests of minority shareholders to the fullest extent. We expect an efficient and fruitful cooperation between the Board and VTB management in discussing the Bank’s operations”.

The first session of the Consultancy Board is scheduled for 30 July 2009. The agenda includes election of the Consultancy Board Chairman, adoption of the rules of procedure, and discussion of basic parameters of the Regulation on VTB Shareholders Consultancy Board.

For detailed information on VTB Shareholders Consultancy Board, please refer to the Consultancy Board page at the Bank’s website.

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