Rashid Gaissin, Managing Partner at GRATA Law Firm gave a speech at the recent Summit entitled ‘The First Summit of CIS Independent Directors’, which was held on November 27-28, 2007. The Summit was organized by the Kazakhstan Independent Directors Association (KIDA) and the Russian Independent Directors Association at the Intercontinental Hotel, Almaty.

Rashid Gaissin, Managing Partner at GRATA Law Firm gave a speech at the recent Summit entitled ‘The First Summit of CIS Independent Directors’, which was held on November 27-28, 2007. The Summit was organized by the Kazakhstan Independent Directors Association (KIDA) and the Russian Independent Directors Association at the Intercontinental Hotel, Almaty.

The Summit was designed to promote the initiative of the Government of the Republic of Kazakhstan of developing the institute for independent directors in Kazakhstan.  According to the recent amendments to Law No. 415-II of the Republic of Kazakhstan ‘On Joint Stock Companies’ dated 13 May 2003, at least one third of the board members in a joint stock company should be independent directors.

The Summit provided room for two days of plenary sessions and interactive discussions addressing the following issues:
• Kazakhstan Independent Directors Association: involving the business community in promoting new standards.
• The practice of attracting independent directors. Experience in Russia.
• Boards of Directors in public companies. Investors’ prospective.
• New international listing requirements and the role of independent directors. The perspective of major stock exchanges.
• An effective Board of Directors: the causes of crises and ways of overcoming them.
• The balance of interests of the top-management, Board of Directors and shareholders.
• Tools and controls. (regulatory, legal and management aspects).

Board members and CEOs of major CIS companies, shareholders of Kazakhstani and foreign companies, major local business owners, senior managers and representatives of international corporations, corporate governance experts from major companies, heads of corporate relations departments, corporate secretaries and other participants of the corporate governance system, recognized representatives of various state bodies and businesses attended the Summit.

If you would like to receive the complete text of the presentation, ‘Responsibilities of Independent Directors’, please contact Rashid Gaissin.