LatRosTrans
This company is part of Ventspils nafta group This company is part of Ventspils nafta group
 
 

Management  Structure

 

The company’s governing bodies are the shareholders’ meeting, Supervisory Council, and the Management Board.

Supervisory Council

The Supervisory Council is the company’s supervising institution, which represents the interests of shareholders between meetings and supervises operation of the Management Board within the framework fixed by law and the Articles of Association. The Supervisory Council acts in accordance with the Articles of Association and the Regulations of the Supervisory Council, and its tasks include election and dismissal of Management Board members, supervision of the Management Board’s activities; reviewing of the company’s annual report and the Management Board’s proposal for utilisation of profit etc.

Management Board

The Management Board is the company’s administrative body, which manages and represents the company. It is responsible for the company’s business activity and for accounting in compliance with the law, managing the company property and handling its assets in compliance with the law, and the company’s Articles of Association and resolutions of the shareholders’ meeting and the Supervisory Council. The Management Board consists of one member who is elected for a period of three years.

Shareholders

LatRosTrans is a Latvian-Russian joint venture, in which 66% of shares are owned by JSC Ventspils nafta and 34% of shares – by the Russian company Transnefteprodukt.