8 Setting the standards

The Board Andrey Melnichenko Charles Adriaenssen Vladimir Stolin George Cardona Dmitry Strezhnev Nikolay Pilipenko Keith Jackson Richard Sheath

1 Andrey Melnichenko (38)

Chairman of the Board of Directors

  • Beneficiary of a 95% interest in EuroChem
  • Co-founder and former chairman of the Board of Directors of MDM Bank
  • In partnership with Sergey Popov, built EuroChem, SUEK and founded TMK

2 Charles Adriaenssen (54)

Member of the Corporate Governance and Personnel Committee

  • Former director of Interbrew (now InBev)
  • Served as a diplomat from 1982 to 1995
  • Works as a consultant on corporate governance and public affairs

3 Vladimir Stolin (63)

Chairman of the Corporate Governance and Personnel Committee

  • A leading adviser on human resource management, motivation and development
  • Founder and chairman of a leading Russian company advising on personnel development

4 George Cardona (59)

Chairman of the Strategy Committee

  • Founder and CEO of London-based Cardona Lloyd & Co.
  • Former Head of Strategy at HSBC Group, and General Manager responsible for international banking

5 Nikolay Pilipenko (45)

Member of the Audit Committee

  • Finance Director of EuroChem until December 2008
  • Previously worked at ABB from 1994 to 2005, including as ABB corporate financial controller from 2002

6 Keith Jackson (61)

Member of the Strategy Committee,
Member of the Audit Committee

  • 32-year career with Anglo American plc: was most recently CFO of Anglo Industrial Minerals, a division which included Copebras, a significant Brazilian fertilizer company
  • Formerly chairman of Cleveland Potash Ltd
  • Served as finance director of Petrosur SA, an Argentine urea fertilizer company

7 Richard Sheath (48)

Chairman of the Audit Committee,
Member of the Personnel Committee

  • Extensive experience in corporate governance and risk management, heading up a boutique governance consultancy that advises many leading companies on the effectiveness of their governance structures
  • Former risk management partner with PricewaterhouseCoopers
  • Six years experience based in Russia

8 Dmitry Strezhnev (42)

Member of the Board of Directors,
CEO of EuroChem

  • CEO of EuroChem since 2004
  • Owns 5% of EuroChem’s shares
  • Has a wealth of experience in the management of large Russian industrial companies, holding executive positions at the Likinskiy Bus Manufacturing Plant, the auto manufacturer GAZ and a number of smaller companies

Age as at December 31, 2010.

Shareholding structure
and influence

  • EuroChem has adopted a robust approach to corporate governance in Russia:
    • Management develops and executes strategy
    • Board of Directors performs an overall oversight function
    • Half the Board is represented by independent directors with long-standing experience and reputations
    • Three committees: Audit, Governance and Personnel, Strategy
    • Transparent and open ownership structure
    • Long-term shareholder commitment
    • Prudent dividend policy, consistent with the financial standing of the Company

Transparency and disclosure

  • IFRS reporting since 2002, audited by PwC
  • Annual reports issued since 2005
  • Financial statements and majority of corporate governance documents are publicly available on regularly-updated website