RVC’s highest management body is the General Meeting of Shareholders, whose remit includes decisions on key issues, including approval of the Charter, approval of material transactions and the election of the Board of Directors and the collegial and sole executive bodies.
Board of Directors
RVC’s Board of Directors is a collegial management body that determines RVC’s priority areas of activity and its development strategy, sets the overall direction for RVC’s operations (except for issues that fall within the remit of the General Meeting of Shareholders) and supervises the work of the Management Board and of RVC’s sole executive body.
For the purpose of preliminary analysis of materials and the preparation of recommendations on key issues, RVC’s Board of Directors established the following committees: the Strategic Planning Committee, the Personnel and Compensation Committee and the Audit and Integrity Committee.
Board committees include not only members of the Board of Directors but also representatives of other development institutions, federal ministries and private business, as well as individuals from innovation and venture capital markets. This Board composition ensures that issues in all areas of RVC’s activity are analysed in the most effective way possible, enabling the Board to identify optimal solutions that take into account coordination with other development institutions and market players. The committees are headed by members of RVC’s Board of Directors.
The Management Board is the executive body of RVC in charge of day-to-day operations, as well as strategic management and oversight of the activities of subsidiaries; it ensures the implementation of RVC’s key strategic documents and decisions of the General Meeting of Shareholders and the Board of Directors. The Management Board’s activities are governed by the Charter and the Regulation on the Management Board of RVC. RVC’s Management Board reports to the Board of Directors and the General Meeting of Shareholders.
Alexander Povalko (elected by decision of an extraordinary General Meeting of Shareholders of 22 December 2016, Order No. 1046-r of Rosimushchestvo). RVC’s CEO is elected by the General Meeting of Shareholders. The CEO’s term of office is established by the General Meeting of Shareholders and shall not exceed three years.
The accuracy of RVC’s financial statements is verified by an external independent auditor approved by the General Meeting of Shareholders based on the results of an open tender (conducted in accordance with the legal requirements).
The Audit Commission controls RVC’s financial and economic activities in order to improve efficiency and protect the interests of shareholders. The Commission is elected by RVC’s General Meeting of Shareholders.