Igor Belikov
In November of 2001 leading Russian joint stock companies founded a non-for-profit partnership, the Russian Institute of Directors (RID). The first RID members include OAO SUAL HOLDING, RAO Norilskiy Nickel, OAO Ob’edinennye Mashinostroitelnye Zavody [United Engineering Plants] (Uralmash-Izhora Group), OAO Surgutneftegas Joint Stock Company, and OAO NK UKOS. OAO Aeroflot and OAO Sibneft are expected to join RID shortly, as well as several other Russian companies.
The foundation of the RID was a response of the Russian business community to the need for improvement to corporate governance in Russian companies, as one of the prime requirements from investors, which was also supported by international institutions and business societies.
RID Mission
Support the enhancement of the competitiveness of Russian companies by improving the system of corporate governance at Russian companies and ensuring high professional and ethical standards of practices of Russian companies’ boards; and also unite professional managers sharing the values of the socially responsible business in Russia.
The prime objective of the RID is to support the competitiveness of Russian companies, and to substantially improve the image of Russian business, enhance the corporate culture and subsequent inclusion of Russian directors in the international business community.
Prime areas of RID’s activity are as follows:
- Conduct research of practices of corporate management of companies in order to increase efficiency of businesses.
- Develop professional standards for Board members (executive and non-executive directors), members of auditing committees and implementation thereof by creation of training and upgrading systems under the RID auspices, and presentation of information to the relevant departments and RID companies’ members on the regular basis.
- Develop and implement ethic norms of professional activity of corporate directors (Professional Code of Ethics).
- Consolidation of professional society of corporate directors in Russia, presentation of their interests in government bodies and in public, support of their cooperation with other professional societies in Russia and abroad, and major groups of corporate relationship members (united shareholders, institute of collective investments and others).
- Realization of programs (research, information, consulting and publishing) that intend to help professional association of corporate directors and also to improve efficiency of their businesses by establishing an effective Russian model of corporate governance.
RID experts have contributed to the development of the Corporate Governance Code by conducting seminars and conferences on corporate governance problems, preparing training programs and publications.
Major RID projects are as follows:
- The Corporate Director Training Course is designed for preparing executive directors and Board members of companies. The course was developed in cooperation with the financial and expert support of the USA-based Center for International Private Enterprise (CIPE) and also Shulikh Business School of York University (Canada).
- A training course for company secretaries and companies’ Board.
- A training course for representatives of official authorities of the Russian Federation and municipal authorities engaged in managing joint stock companies.
- The Course «Managers as Resource to Improve the Corporate Governance» is targeted at attracting successful managers to Russian companies’ Boards.
- Development of the rating system for Russian companies based on the corporate governance level of companies (together with the Russo-British Chamber of Commerce).
- Monitoring the Board activity of Russian companies and development of recommendations on the principles of work of corporate directors.
- Development of recommendations to improve of the Corporate Conduct Code.
- Arranging expert forums on the key problems of corporate governance.
- Consulting support for Russian companies on the key issues of the corporate governance practices.
The RID partners are FCSM of Russia, Ministry of Property Relations, the Russian Federal Property Fund, Association of Mangers, Center for International Private Enterprise, International Center for Accounting Reform, International Financial Corporation, and the Institute of Directors of Great Britain.
RID President Kakha Bendukidze. RID Director Igor Belikov. Kitaigorodsky Proezd, house 7, stroenie 3, Moscow, RF. Tel.: 220 4535, 220 4540. Fax: 220 4545. Internet: http://www.rid.ru. e-mail: info@rid.ru.