The board of directors reviewed and approved planned values of the predictive indicator of the strategic process “To develop the best team in the industry” for 2019, based on the priority of inspiration, competence and performance of employees.
These indicators are necessary for the Board of Directors’ clear and objective assessment of the future outcome of 2019.
The Board of Directors reviewed and approved the descriptions of the Global CMO and Global COO roles, as part of the Company's transition to a new organizational structure of the top management / Management Board of OOO MAY for 2019–2021, along with the list of owners of the strategic processes of Strategy 2025 on 2019- 2021 among the top management / Board of the Company.
The Board of Directors decided to hold the annual general meeting of OOO MAY shareholders on April 30, 2019.
CEO Sergey Konev introduced the Members of the Board of Directors with the results of the business for the year 2018.
During the Board of Directors meeting, the list of strategic processes of the Strategy 2025 first level and the new edition of the competitive advantages of Strategy 2025 were approved, these refinements of the Strategy 2025 components will allow management to understand the tasks assigned to it more clearly.
The Board of Directors also got acquainted and approved reports of the Strategy Committee work, the Personnel and Remuneration Committee and the Internal Audit Team in 2018.
During the meeting, the members of the Board of Directors unanimously decided of necessity to include a well-developed and filled section “Competitive advantage” in the business strategy 2018-2025.
The members of the Board of Directors were acquainted with the information of the internal control system effectiveness and the risk management system in the Company.
The Board of Directors also approved a new version of the Business Ethics and Corporate Conduct Policy and the Internal Audit Team work plan and budget for the second half of 2018.
The members of the Board of Directors got acquainted with the production by visiting the tea and coffee manufactory, the production and warehouse complex and the territory of Maykompleks. The meeting participants highly appreciated the technical equipment, process coherence and the production team corporate culture.
In the context of the meeting, by the Board of Directors decision, the independent director of the Board, Polina Kiseleva, was included in the Strategy Committee and the Trade Committee.
The Board of Directors members were acquainted with the results of the first quarter of 2018, the report of the Director of the corporate finance team about the work of the team in 2017. The Board of Directors also approved the report on the work of the Audit Committee of the OOO MAY Board of Directors for 2017.
March 1, 2018 a regular meeting of the Board of Directors of LLC “MAY” was held. The members of the Board of Directors reviewed and approved the results of business development in 2017 (Russia, Ukraine). The report of the Internal Audit Team on the Team's work in the fourth quarter of 2017 and the list of priority CAPEX for 2018 May-Foods Europe are presented. Members of the Board of Directors were introduced to the May-Foods Russia sales system.