Today the Investor Protection Association (IPA) and Ernst&Young held the press-conference on the launch of the joint "Independent Director Programme" in Russia.

The "Independent Director Programme" is intended to develop and promote the role of independent non-executive directors on the Board of Russian companies through a programme of targeted events, publications and a website.

The programme will be implemented along the following main directions: promotion best independent directors practices and their professional growth, public information on the role of independent non-executive directors in the Russian corporate governance practices and finally, the establishment of the independent professional organisation - the Independent Directors Association.

The joint initiative has been supported by the Russian Federal Securities Commission - the Russian corporate governance regulator. "We are sure that our joint efforts will promote the best corporate governance standards on the Russian market", said the IPA director Alexander Ikonnikov at the press-conference.

Board of directors issues remain one of the key aspects in the development of an efficient and civilised business environment. Effective Independent Non-Executive Directors can optimise board performance, making Russian companies attractive not only to its current shareholders but also to future investors.

At the press-conference Mark Jarvis, Programme Coordinator from IPA pointed out: "We are moving from the area of violations to development. It is absolutely surprising how quickly we move from dark days to much more than the light at the of the tunnel".

Press-Conference Materials:
Memorandum
Press-Release

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