MOSCOW, May 31. /TASS/. The Russian Government suggests permitting national companies under international sanctions not to elect boards of directors, Prime Minister Mikhail Mishustin said on Tuesday.
"The proposal is to authorize companies hit by sanctions not to elect the board of directors. This is at present particularly pressing for public joint stock companies, where such management authority is compulsory. Compliance with this requirement can be challenging in current realities," the Prime Minister said.
Furthermore, it is planned to allow in certain cases to preserve powers of the board of directors without reelection, Mishustin said. "For example, when its headcount becomes less than the minimal figure set forth by law," he noted.