Ural Vagon Zavod’s CG Rating Goes to 5++

20 July 2016 (13:03)

UrBC, Yekaterinburg, July 20, 2016. Russian Institute of Directors got Ural Vagon Zavod Corporation’s corporate governance practices re-evaluated based on an updated National Corporate Governance Rating methodology.

According to the company press service, the corporation’s corporate governance rating went up to 5++ (Average Corporate Governance Practices) as a result.

‘Corporate governance improvements based on the best global practices are part of our roadmap to privatize federally owned shares of the business,’ the press service says.

When re-evaluating Ural Vagon Zavod Corporation’s CG practices, experts looked at the structure of the company’s authorized capital, among other things: at the moment, the state holds a 100% stake in the business, which is why some of the assessment criteria were not applied.

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