On 2 September 2011, the meeting of Strategy and Corporate Governance Committee under VTB Supervisory Council was held. The members of the Committee considered a number of key issues related to integration of JSC TransCreditBank into VTB Group, corporate governance of VTB Bank and, in particular, introduction of corporate secretary position.
Following the results of the meeting, the Committee decided to approve the 2011-2013 strategy for integration of JSC TransCreditBank into VTB Group, recommended the Supervisory Council to approve the Regulation on Corporate Secretary and elect the corporate secretary candidate proposed by VTB Bank. The Committee also supported the initiative of VTB leadership on evaluating corporate governance by the Supervisory Council in Q4, 2011 and approved the evaluation methods adopted according to the recommendations of the Bank of Russia.Ekaterina Petelina, Member of VTB Management Board, Head of Strategy and Corporate Governance Department, said: ”At the meeting the Committee members considered a number of strategic issues on developing VTB Group business and improving its efficiency. I am certain that introduction of corporate secretary position and participation of the Supervisory Council members in evaluation of corporate governance system helps us work in perfect alignment with best world practices. In its turn, the strategy developed for full-fledged integration of JSC TransCreditBank into VTB Group by the end of 2013 will contribute to strengthening the Group’s market positions”.