Alexander Popov, JSC Acron’s Senior Vice President, was elected to chair the Board of Directors. Company employees elected to the Board were: Vladimir Gavrikov, Executive Director, Viktor Kochubey, Senior Deputy Executive Director, and Oleg Kornyshev, Head of Corporate and Legal Division. For the first time, three independent directors were elected to the Board of Directors: Alexander Dynkin, Director of the Institute of World Economy and International Relations at the Russian Academy of Sciences (IMEMO), Igor Belikov, Director of the Russian Institute of Directors, and Nikolai Arutyunov, Head of the research department at the Moscow office of NCH Advisors, Inc.
The Board of Directors adopted a resolution establishing three committees to be led by independent directors. Nikolai Arutyunov will lead the Audit Committee, Igor Belikov – the Strategic Planning and Corporate Governance Committee and Alexander Dynkin – the Human Resources and Remuneration Committee.
Ivan Antonov was reappointed as President of Acron.
Acron’s Managing Board was also reelected: President Ivan Antonov, Senior Vice President Vladimir Kunitsky, Senior Vice President Alexander Popov, Vice President for Finance Oscar Valters, Vice President for Non-core Assets Svetlana Nemova.
Shareholders adopted a resolution to pay 2007 year-end dividends of RUB 65 per common share with a par value of RUB 5, bringing total year-end dividends to RUB 3.1 billion. Acron has already paid interim dividends of RUB 13 for the first six months and RUB 12 for the first nine months, for total 2007 dividends of RUB 40 per common share.
Baker Tilly Russaudit are the auditors of the Company's financial and accounting statements prepared in conformity with Russian Accounting Standards, and PriceWaterhouseCoopers Audit are the auditors of the Company's financial and accounting statements prepared in conformity with International Financial Reporting Standards.