Press Releases
Global Ports Investments Plc. follows the best corporate governance principles
Global Ports Investments Plc (“GPI”), a leading container and oil products terminal operator in Russia and the Baltics announced today it is committed to the best corporate governance practices and has introduced an independent non executive director as well as created specialized committees of the Board of Directors.
Capt. Bryan Smith was appointed as a Senior Independent Director of GPI. Capt. Smith’s previous work experience includes positions of Vice President and Managing Director for South East Asia at DP World. His career also includes several senior management positions within the industry including chairman of the Board of Directors of Asian Terminals Incorporated, a publicly listed company. GPI is convinced that extensive industry experience of Capt. Smith will benefit GPI’s further development and growth.
In addition, following the best practice and recommendations of Combined Code, an Audit Committee, Remuneration Committee, Nomination Committee were created.
The Board of Directors has also further elaborated on certain corporate governance procedures (audit, financial accounting, risk management, general corporate governance etc.) and has reiterated its commitment to implementation of these by GPI’s management.
Nikita Mishin, Chairman of the Board of Directors, commented on the above “I am pleased that GPI is following best international practices in terms of its corporate governance. Appointment of Capt. Smith in the capacity of a Senior Independent Director will definitely benefit further development of the GPI.”
Further information:
GPI
Priit Pedaja +357 25 503 163
Anna Vostrukhova +7 985 999 3024
About GPI
Global Ports Investments Plc. (“GPI”, “Global Ports”, “the Group”) is a leading container and oil products terminal operator in Russia and the Baltics, respectively, by gross throughput. The Group is owned by N-Trans, the largest privately owned transportation and infrastructure group in Russia.
The Group’s terminals are located in the Baltic and Far East basins and constitute key gateways for Russian container imports and exports and oil products exports.
GPI operates three container port facilities in Russia (including Petrolesport and Moby Dik in St. Petersburg and VSC in Nakhodka), two container terminals in Finland, the largest independent oil products terminal in the Baltic (Vopak E.O.S.) and is developing one inland terminal (Yanino) in the St. Petersburg region.
The Group handled over 30% of Russian container traffic and Russian fuel oil exports in 2007.1
1. According to research of independent shipping consultants
19.12.08