Board of Directors

Composition of the Board

The Company’s Articles of Association stipulate that the board of directors shall consist of not less than three and not more than six members. Members are elected annually at the annual general meeting for the time up until the next annual general meeting. The Current board of directors is composed of five board members. The directors represent competence and operational experience from the oil and gas business perspective, investment banking and best practice organization development and corporate governance. The board of directors have significant experience from conducting business in the Russian Federation and contribute insight in Russian business culture.  

Three directors are independent in relation to the Company and the management and three members are independent in relation to major shareholders. The Annual General Meeting held on 28 june 2016 approved the following composition of the Board of directors:

-    Jürgen Lamp, Chairman of the Board of Directors
 -   Indrek Rahumaa 
-    Petr Arbatov
-    Eimar Rahumaa

Mr Petr Arbatov decided to leave his position early 2017

Click here for further information on the Board members.

Klicka här för information om styrelsens ledamöter

 

Chairman of the Board

The Chairman ensures that the work of the board is carried our timely and efficiently. The duties of the Chairman also include being in regular contact with and providing support to the Chief Executive Officer. Among other things, the Chairman is responsible for the Board members continuously receiving the information necessary to monitor the Company’s position, performance, liquidity, financial planning and development, for ensuring that the Board’s decisions are executed in an effective manner.

The Chairman is independent of the Company.

 

Nomination Comittee

The Company has at the AGM 2016 not adopted principals for formation of a Nomination Committee.

 

Remuneration and Audit Committee

The Company has not yet established the Remuneration or the Audit Committees. These committees will be formed in due course, following articulated developments of Selena Oil & Gas Holding AB.