Corporate Governance

The corporate governance system of «Samruk-Kazyna» JSC protects the rights of shareholders and provides investors with prompt and reliable information on profits, management principles and the state of affairs in the company, minimizes and eliminates potential risks of violation of interests and rights of shareholders.

The new Corporate Governance Code For the first time in Kazakhstan, the Fund, with the assistance of the Organization for Economic Cooperation and Development (OECD), have drafted a new Corporate Governance Code that meets the best international standards

The new methodology Following the introduction of the new Corporate Governance Code, Portfolio Companies are facing new tasks that require higher standards for implementation

Efficiency As a result of transformation, the Fund should convert from an operational holding into a strategic holding

Sustainable development Samruk-Kazyna JSC is a Sovereign wealth Fund. Therefore, the Fund’s Companies must responsibly conduct its business and increase the value of its portfolio for both current and future generations of Kazakhstan.

Transparency Transparency is one of the main points of interest for investors and stakeholders. The introduction of information ethics and responsible data management culture is a necessary preparatory stage for an IPO.

Reports The quality of annual reports directly affect transparency, therefore both content and ways of its presentation have been revised. The upcoming stage is introduction of annual reports based on standards of the GRI.

Management bodies Corporate governance system at Samruk-Kazyna JSC includes management, control and responsibility of management bodies across all the companies of the Fund at all levels:

Government of Kazakhstan is the Sole Shareholder of Samruk-Kazyna JSC with an authority to approve the Fund’s Development Strategy, appoint directors and Chairman of the Management Board, approve financial results, and receive dividends;

Board of Directors provides overall management of the company and delegates day-to-day operational tasks to the Management Board led by its Chairman

Council on the management of the Fund

The Council on the management of the Sovereign Wealth Fund Samruk-Kazyna is an advisory body, chaired by the First President of the Republic of Kazakhstan - Elbasy, that elaborates the proposals on improvement of the competitiveness and efficiency of the Fund;

Nursultan Abishevich Nazarbayev

The first President of the Republic of Kazakhstan - Elbasy, chairman of the Council

Council members

Askar Uzakpaevich Mamin

The Prime Minister of the Republic of Kazakhstan

Erlan Zhakanovich Koshanov

The head of the Administration of the President of the Republic of Kazakhstan -

Akhmetzhan Smagulovich Yessimov

Chairman of the Board of JSC “National Welfare Fund“ Samruk-Kazyna ”

Jon Dudas

Chairman of the Board of Directors, Independent Director of «Samruk-Kazyna» JSC

Mazhibayev Kairat Kuanyshbayevich

Member of the Board, Independent Director of «Samruk-Kazyna» JSC

Ruslan Dalenov

Member of the Board of Directors

Ong Boon Hwee

Member of the Board, Independent Director of «Samruk-Kazyna» JSC

Bozumbayev Kanat Aldabergenovich

Assistant to the President of the Republic of Kazakhstan,
Member of the Board of Directors

Akhmetzhan Yessimov

Member of the Board, Chairman of the Management Board of «Samruk-Kazyna» JSC

Luca Sutera

Non Executive Director of «Samruk-Kazyna» JSC

Management board

Akhmetzhan Yessimov

Chairman of the Management Board

Karymsakov Beibit Yerkinbayevich

Managing Director for Economy and Finance

Kravchenko Andrei Nikolayevich

Managing Director for Legal Support and Risk

Yerzhan Tutkushev

Managing Director for Logistics and International Cooperation

Yernar Zhanadil

Co-Managing Director for Economics and Finance

Akhmetzhan Yessimov

Chairman of the Board

Pirmetov Alisher

Deputy Chairman of the Board

Satkaliyev Almasadam

Managing Director for Asset Management and Privatization

Yerzhan Tutkushev

Managing Director for Logistics and International Cooperation

Karymsakov Beibit Yerkinbayevich

Managing Director for Economy and Finance

Borankulova Lyazzat

Managing Director for strategic development

Kravchenko Andrei Nikolayevich

Managing Director for Legal Support and Risk

Kereybayev Dauren

Managing Director for Digitalization and Transformation

Yernar Zhanadil

Co-Managing Director for Economics and Finance

Audit Committee

Chairman: Sutera Luce
Independent Director. Member: Ong Boon Hwee
Independent Director.

Nomination and Remuneration Committee

Chairman: Dudas Jon
Independent Director. Member: Bozumbayev Kanat Aldabergenovich
Aide to the President of the Republic of Kazakhstan;
Mazhibayev Kairat Kuanyshbayevich
Independent Director;
Sutera Luce
Independent Director.

Special Committee

Chairman: Sultanov Bakhyt Turlykhanovich Member: Bergenev Adylgazy Sadvokasovich
Zhanadil Ernar Beysenuly
Tuleshov Gabdulkumyt Madenovich
Kiyakbaeva Ardak Boranovna
Bushmuhambetova Ainur Sansizbaevna
Karymsakov Beıbıt Erkınbaevıch
Issayev Bakhtiyar Orynbasarovich

The Transformation Program Progress Control Committee

Chairman: Dudas Jon
Independent Director. Member: Bozumbayev Kanat Aldabergenovich
Aide to the President of the Republic of Kazakhstan; Ong Boon Hwee
Independent Director.

Strategy Committee

Chairman: Dalenov Ruslan Yerbolatovich
Minister of the National Economy of the Republic of Kazakhstan. Member: Dudas Jon
Independent Director; Mazhibayev Kairat Kuanyshbayevich
Independent Director Ong Boon Hwee
Independent Director.

Board of Directors

CEO

Corporate Secretary Service

Internal Audit Service

Ombudsman

Advisor to the CEO

Compliance Service

Department of Security and Protection of State Secrets

Secretariat of the Chairman of the Management Board

Deputy CEO

Co-Managing Director for Procurement

HR Department

Public Relations and Marketing Communications Department

Procurement Control and Monitoring Department

Government Relations Department

Director of Assets Development Department – Member of the Management Board

Assets Development Department

Managing Director for Assets Management and Privatization

Assets Management Directorate

Assets Privatization and Restructuring Department

Managing Director for Logistics and International Cooperation

Transport and Logistics Directorate

Department for International Cooperation

Managing Director for Economy and Finance - Member of the Management Board

Co-Managing Director for Economy and Finance – Member of the Management Board

Economy and Planning Department

Accounting and Financial Reporting Department

Corporate Finance Department

Treasury Department

Managing Director for Strategic Development

Strategic Development Department

Managing Director for Legal Support and Risks - Member of the Management Board

Legal Support and Methodology Department

Corporate Governance Department

Risk Management and Internal Control Department

Managing Director for Digitalization and Transformation

Samruk-Kazyna JSC
Corporate Governance Code

Following an extensive and comprehensive discussion,
the Fund adopted the new Corporate Governance Code in 2015.
Since 1 January 2017, annual reports of the Fund and Portfolio Companies
must disclose the information on compliance with the Code.