Cherkizovo board of directors re-elected for another term
MOSCOW. June 28 (Interfax) - Shareholders in meat products group Cherkizovo re-elected the board of directors to another term at the AGM on Friday.
The makeup of the seven-member board remains unchanged: group founder Igor Babaev, CEO Sergei Mikhailov, Vitaly Podolsky, Yevgeny Mikhailov, Musheg Mamikonyan, Samuel Lipman and Marcus Rhodes.
There were 11 candidates for seats on the board.
Shareholders also approved compensation for the board of directors. Podolsky will receive 2.5 million rubles, Mamikonyan - 1 million rubles, Lipman - 1.5 million rubles and Marcus Rhodes - $100,000 (all amounts, including VAT).
Shareholders also approved new provisions for board member compensation, which were last updated in 2006. It sets base compensation at $100,000 for the corporate year and an additional $20,000 for the chairman of the audit commission. Compensation payments will be made quarterly.