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The power of the joint stock company Ventspils nafta is people. People that found themselves by working for companies of the Group, as they see that their work can change the world for better. People that sense responsibility both for themselves and others. People who like challenges and are satisfied with their well done work.
Administration
The company has the following administrative institutions: General Shareholders` Meeting, Supervisory Council, and Management Board.
General Shareholders`Meeting is the highest executive body of the company in which the company’s shareholders exercise their rights and participate in the management of the company. Both general and extraordinary meetings may be called.
Shareholders’ Meeting
Only the company’s shareholders` meeting has the right to make decisions regarding the company’s annual report; expenditure of profits from the previous operating year; election and dismissal of the Supervisory Council members, auditors, public controllers and liquidators; amendments to Articles of Association; increase or reduction in share capital; issue and conversion of the company’s securities; termination, continuation or reorganization of the company’s operation.
Supervisory Council
The Supervisory Council is the company’s supervisory institution that represents the interests of shareholders between meetings and regulates the operation of the Management Board in accordance with the parameters prescribed by the law and the company`s Articles of Association. The Supervisory Council acts in accordance with the Regulations of the Supervisory Council and its tasks include the election and recall of Management Board members, constant supervision of activities of the Management Board; revision of company’s annual report and Supervisory Council’s proposal for utilization of profit etc.
Members of the Supervisory Council:
Javed Ahmed
Mikhail Dvorak
Vladimir Egger
Rubil Yilmaz
Mark Ware
Christophe Theophanis Matsacos
Olegs Stepanovs
Edgars Jansons
Rudolf Meroni
Michael Hason
David Alexander Schlaff
Management Board
The company’s executive body is the Management Board that represents the company, carries out its administration and is responsible for its business transactions and compliance of the company’s bookkeeping with the laws. The Management Board manages the company’s property and handles its resources in accordance with the laws, the company’s Articles of Association and resolutions adopted by the Shareholders’ Meeting and the company’s Supervisory Council. The Management Board consists of three members that are elected for three years.
Chairman of the Management Board:
Simon Boddy (since 2010)
since 2008 – Member of the Supervisory Council of Ventspils nafta termināls Ltd;
2006/2008 – Chief Representative of Moscow Office of Vitol Group;
since 2009 – Managing Director of ETOS Latvia.
Ilva Purēna
Member of the Management Board (since 2003)
2002/2003 – Head of the Legal Department of JSC Ventspils nafta;
since 2003 – Legal Director of JSC Ventspils nafta;
2004/2008 – Member of the Supervisory Council of JSC Preses nams;
since 2005 – Member of the Management Board of JSC Latvian Shipping Company.
Boris Bednov
Member of the Management Board (since 2010)
since 1996 - Head of Lietuva Office of Vitol in Mazeikai
Alexander Yagdzhiyants
Meber of the Management Board (since 2010)
2003/2007 - Founder and Chief Executive of JSC Ekspolita
since 2007 - Executive of Lietuva Office of Vitol in Mazeikai
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