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Corporate governance

Board of Directors in accordance with applicable law executes governance in HMS Group as the joint business. The Board of Directors of HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC is composed of executive, non-executive and independent directors in order to balance the interests of all the shareholders and investors of HMS Group. The structure and activity of the Board of Directors is described in the IPO prospect and is governed by the Board of Directors regulations. Along with the Board of Directors two committees headed by two independent directors are formed: Audit Committee and Compensation Committee.

Operating management of the HMS Group commercial activity is carried out by the CEO (managing director) of HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC. Since 2005 the business administration of the Russian manufacturing companies of HMS Group is carried out by the Managing company HMS Group Managment company LLC that performs the functions of chief executive body of the above-mentioned companies. The managing directors of HMS Group are the employees of the HMS Group Management company LLC.

The maintaining of the corporate governance system and information transparency at the level of high world standards is one of the priority targets of HMS Group.

Board of Directors

Management