LLP «Service-Ros» has implemented the corporate governance system designed to promote effective managerial decision-making that shall ensure the Company’s progressive and sustainable development in the interests of all shareholders. In the sphere of corporate governance the Company relies upon the best world experience, practices of the Russian business leaders and national corporate governance standards.
The is committed to maintaining high standards of corporate governance. As specify in the Ministry of Chambers and Commerce of the Russian Federation on the code for corporate governance for all well established enterprises and firms, the Company intends to comply with the recommendations of the Russian Corporate Governance Code, taking into account its size and stage of development.
The Consortium of the Russian Institute of Directors and the Expert RA Rating Agency confirmed 9+ Corporate Governance Score of LLP «Service-Ros» in October 2011. This score means the Developed Corporate Governance Practices according to the scale of the National Corporate Governance Score. This score shows that the Company has low corporate governance risks, meets the requirements of the Russian legislation applied to corporate governance and follows most recommendations of the Russian Code of Corporate Conduct and certain recommendations of the advanced international corporate governance.
The Consortium experts mentioned creation of the English version of the LLP «Service-Ros» Internet site among new positive aspects of the Company’s corporate governance practices.
Until 2011, the scale of Corporate Governance Score reflected three classes of the rating scores and had the letter value. According to that scale LLP «Service-Ros» was rated with B++ score between 2008 and 2010. B++ score meant the medium level of corporate governance. The experts’ decision on transition to the digital scale was caused by the increased need of Russian companies and investors to have a more precise tool for assessment of corporate governance risks. According to the new scale, the maximum score is 10; this scale has a greater number of levels and allows conducting a more detailed analysis of corporate governance practices of various companies.