Andrei L.Kostin has been VTB Bank President and Chairman of the Management Board since 2002.
The Chairman and CEO is in charge of running VTB Bank business on a day-to-day basis in order to meet the Bank’s targets and implement its strategy. The Chairman and CEO of the Bank reports to the General Shareholders Meeting and the Supervisory Council.
The terms of reference of the Chairman and CEO cover all matters related to the Bank’s day-to-day management, except for those referred to the exclusive competence of the General Shareholders Meeting or the Supervisory Council.
The Supervisory Council of the Bank may any time decide on early termination of the mandates conferred upon the Chairman and CEO, or members of the Management Board, terminate agreements made with them and decide on setting new executive bodies of the Bank.
The Chairman and CEO may:
The Chairman and CEO may delegate decision-making on any particular matter falling within his terms of reference to members of the Management Board, general managers of the Bank’s branches and representative offices or any other person.
In the absence of the Chairman and CEO, his office is held by a member of the Management Board – either the First Deputy Chairman or any other member of the Board authorized by the Chairman and CEO’s order.