Published on : Thursday, December 5, 2019
Aeroflot has confirmed its National Corporate Governance Rating of 7++. The rating was confirmed by the Russian Institute of Directors (RID) based on its monitoring of the Company, and represents Advanced Corporate Management Practices according to the approved National Corporate Governance Rating scale.
The rating serves as confirmation that Russia’s flagship carrier complies with Russian corporate governance legislation and that it follows the recommendations of the Russian corporate governance code. Aeroflot is characterized by relatively low corporate governance risks for its shareholders.
The RID experts highlighted a number of measures adopted by Aeroflot that helped the Company to improve its corporate governance since its previous monitoring in 2018:
– Adoption of a new Aeroflot Group long-term development strategy 2023;
– Adoption of new editions of the Clause on Internal Audit Department and of the Code of Corporate Ethics;
– Extension of the period for publishing information about the Company’s AGM to 30 days;
– Introduction of a wider list of additional information to be provided to those who have the right to participate in AGMs.
Aeroflot is continuously implementing measures set out in the roadmap to improve corporate governance and aims to introduce best cоrporate governance practices.