Fix Price Group maintains an effective system of corporate governance in compliance with the requirements of the London Stock Exchange and the Moscow Exchange, as well as international best practices. The Group is constantly enhancing its corporate governance to ensure the protection of the rights of its shareholders and other stakeholders.
The highest corporate body of Fix Price Group Ltd is the general shareholders meeting.
The Board of Directors is elected by the shareholders and reports to them. The Board of Directors is in charge of strategic management of the Group and supervision over the Group’s executive team. Currently, the Board of Directors consists of seven members, three of which are independent. The Board of Directors has established an audit committee, a nomination and remuneration committee and a strategy committee.
The executive team of the Group, led by the chief executive officer, is in charge of day-to-day operations of the Group and implements the tasks formulated by the shareholders and the Board of Directors.
Chairman and Founding Shareholder
Independent Non-executive Director
Chief Executive Officer
Chief Financial Officer
Head of Category Management
Store Management Department Director
Head of Marketing
Head of HR
Director of Internal Control and Risk Management Department
Head of IT
Head of Security
The Board of Directors has four committees:
- Audit Committee
- Nomination and Remuneration Committee
- Strategy Committee
- ESG Committee
Responsibilities of these committees are stated below.
The Audit Committee assists the Board of Directors with the review of the Group’s internal and external audit activities, including the review of internal control systems, compliance with financial reporting requirements, and the scope, results and cost effectiveness of external audit.
- Gregor Mowat (independent, chairman)
Nomination and Remuneration Committee
The Nomination and Remuneration Committee makes recommendations to the Board of Directors with regards to the appointment of new directors, helps identify, interview and select candidates with suitable industry or key competency experience, and assess the independence of such candidates. The committee also reviews senior management appointments and company-wide succession planning and other human resources related matters.
It also assists the Board of Directors in discharging its responsibilities in relation to remuneration, including reviewing the Group’s overall compensation policy, making proposals to the Board of Directors as to the remuneration of the directors of the Company and of the Group’s Senior Management.
- Gregor Mowat (independent)
The Strategy Committee assists the Board of Directors with the analysis and monitoring of the strategic management issues of the Group, consideration of M&A and large investment projects.
- Sergey Lomakin
- Alexey Makhnev
Environmental, Social and Governance Committee
The ESG Committee assists the Board of Directors in exercising its supervisory function as regards corporate citizenship and sustainability. Among others, primary duties of the Committee include controlling the fulfilment by the Group of its ESG obligations, monitoring and evaluating the risks in relation to working conditions and safety of personnel and contractors, impact on the environment, and controlling the Group’s relations with stakeholders.
- Gregor Mowat (independent)