Supervisory Board meeting (SBM)

Supervisory Board meeting (SBM)

The managers of the industrial sites of “Elinar – Cogebi” group of companies reported to the Supervisory Board in Ateptsevo on the results for Q3 of the current year and plans for 2019. The SB Chairman, the General Director of “Elinar” holding company I.E. Kuimov noted the good preparation of the materials for the meeting that allowed the SB members to focus on the analysis of the submitted information and making of the strategical decisions. So, one of the important decisions made by the SB on this meeting, was the bonus system changing for the employees of the industrial activity companies, which came into effect as from October 1, 2018. The goal of the new system is to give more freedom and powers to the managers concerning the bonus payment to their employees, to increase motivation of management personnel labor.

 

Within the meeting the managers of the sales departments of the industrial activity of “Elinar” and “Cogebi” submitted the preliminary sales plans for 2019 to the SB. Moreover, on the meeting the sites directors presented the first project of CAPEX list which they would like to implement next year. The General Director of IMBU Peter Landendinger noted that the project should be reviewed and confirmed, however, the SB had got the opportunity to get the first sight about the investment plans of each production site. The SB paid the special attention to the issue of “Elinar” group and “Cogebi” real property using for renting and the importance of increasing of the production areas effectiveness was noted again.