At its today's meeting, the Board of Directors of Generation Company Four of the Wholesale Market of Power and Energy (OGK-4) approved the establishment of the Audit Committee under the Board of Directors to comprise three members, with the following three persons elected:
Yuri Makushin – Deputy Managing Director of RAO UESR Business Unit No. 2;
Dmitry Fedorchuk – Head of the Corporate Governance Department of RAO UESR Business Unit No. 2;
Dmitry Burnashev – Head of the Business Planning Department of the RAO UESR Corporate Center.
Yuri Makushin has been elected as Chairman of the Audit Committee under the OGK-4 Board of Directors.
The Audit Committee was established to handle issues falling within the competence of the Board or addressed by the Board as part of the procedure for control of activity of the Company's executive body. One of the Audit Committee's functions is to develop recommendations for the Board of Directors and the executive body of OGK-4. The Audit Committee was established to enhance the transparency of the Company's operations and improve the corporate governance system of OGK-4.