The Bank of Russia commended FESCO’s efforts to implement the principles and recommendations of the Corporate Governance Code

27 April 2017
The Central Bank of the Russian Federation (“CBR”) commended FESCO PLC ("Company") for its efforts to put into the corporate practice the CBR principles and recommendations contained in the Corporate Governance Code (CGC).

The CBR noted that most of the CGC principles and recommendations were reflected in the Company’s corporate governance. CBR welcomes the efforts aimed at performing an example of quality management in the Russian company as a whole.

During 2016, the Company systematically developed its corporate governance and also carried out a number of activities aimed at bringing the business in accordance with the requirements of the CBR as well as well as of the Moscow Stock Exchange.

The Company will continue working on the implementation of CGC principles and recommendations in its corporate practice.