NATIONAL COUNCIL ON CORPORATE GOVERNANCE

Contributors to the 2011 Report include leading experts from the International Corporate Governance Network (ICGN), National Research University - the Higher School of Economics, the New Economic School, the Institute of Internal Auditors, Ernst&Young, Norilsk Nickel GMK and Rostelekom

will take place in Moscow on May 31 – June 1, 2012 at Ritz-Carlton Hotel.

Vladimir Potanin, President of Interros Investment company, was reelected as the NCCG Chairman.

This study examines the main types of conflicts, their causes and consequences and compare typical corporate conflicts in Russia with those in the United States and Western Europe. It contains two case studies - a detailed analysis of the conflicts in Norilsk Nickel and TNK-BP as two of the most well-known ongoing corporate conflicts in Russia. The study analyzes the causes of these conflicts as well as the methods of the parties to the conflicts and discusses the potential scenarios of their resolution and their implications for corporate governance in the two companies.

«If we want to cooperate with the business community effectively and demand that good corporate governance standards should be introduced appropriately, I think we should start with ourselves in the government».

«Obviously, Russian companies will also have more listings in the international stock exchanges. Russian companies will continue to invest capital elsewhere. Given these circumstance, we are supposed to provide for the right level of embracement of best business practices here».

«Anyway, without a modern, robust and effective corporate governance framework it is hardly possible to establish long-term investor relations and further secure business from new crisis set-backs».

«The proper governance of companies became as crucial to the Russian economy as the proper governing of Russia. Strong corporate governance produces good investment climate and social progress».

«The most essential question of today is what shape takes post-crisis corporate governance. If Russia opts for the path elaborated by President Dmitry Medvedev in his article "Go Russia", then changes in domestic corporate governance framework will inevitably become a core element of post-crisis Russian economic reforms».

«Limitation of minority shareholders' rights is inadmissible, since minority shareholders in many ways facilitate disclosure of serious breaches, which otherwise would go unpunished».

«So far foreign shareholders do not consider Russian law as an effective tool to protect their rights».