Aleksey Pesoshin elected Board Chairman of the Power Grid Company

26 June 2018, Tuesday

On June 26, Tatarstan Prime Minister Aleksey Pesoshin took part in the annual general meeting of shareholders of the Power Grid Company, which considered the main results of the company’s financial and economic activities in 2017. The annual report and the annual accounting (financial) statements for 2017 were also approved at the meeting. 

The company's shareholders a report on sustainable development prepared by the GRI Standards Company, which is one of the top companies in new international standards and also with regard to the international agenda for sustainable development.

The meeting elected the Board of Directors and the Audit Commission and approved the auditor to conduct a mandatory annual audit of the company's financial statements for the fiscal year 2018.

The Power Grid Company successfully fulfilled the tasks set in the reporting period. The company demonstrates a stable dynamics of improving the reliability and quality of services provided, which is achieved through the implementation of innovative projects and modernization of existing energy facilities, including the implementation of intelligent solutions.

The company's revenue in 2017 amounted to about 27 billion roubles. According to the results of financial and economic activities in 2017 the company received a net profit amounting 3.6 billion roubles. Net assets increased by 9 per cent as compared to 2016, which is due to the implementation of the company's investment programme.

Speaking at the meeting, Pesoshin appreciated the sustainable production results and effective work of the Power Grid Company to improve the reliability of electricity supply to consumers. He also noted that the team's professionalism, efficiency and responsibility of management, orientation to innovative solutions are the key to achieving all key indicators, economic and managerial efficiency to ensure reliable and high-quality operation of the power grid complex of the republic.

At the suggestion of the Board of Directors of the Power Grid Company Pesoshin was elected Board Chairman.

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