CTF Holdings Ltd (CTF), founded in 1996, is the ultimate holding company of the Alfa Group Consortium and fulfils the functions of the Group Corporate Centre. The Corporate Centre reports directly to the Supervisory Board of Directors through the Director of Corporate Development, Finance and Control who heads CTF Holdings and serves as Secretary of the Supervisory Board.
The primary mandate of the Corporate Centre is to increase shareholder value by managing development-related risks of the Group through the implementation and maintenance of strong mechanisms of corporate governance and financial, strategic and investment control within the Group. More specifically, this includes providing decision-making and implementation support to the Supervisory Board, the representation and protection of shareholder interests as well as the provision of direct assistance to the companies forming the Group.
The work performed by the Corporate Centre covers an extensive range of key functions including:
Financial Control and Audit
Includes the development of a Group-wide accounting and reporting policy; Review of unaudited quarterly company IFRS accounts; Annual preparation of Group audited combined IFRS accounts; Coordination of the external audit; Attracting strong personnel for key finance and accounting positions; Creation of and oversight over Internal Audit Departments in our companies; Group compliance role.
Legal and Shareholder Matters
Responsibilities extend to development of an efficient and transparent Group-wide ownership structure; Developing formal, transparent decision-making procedures; Efficient structuring of investment transactions and restructurings; Representation of shareholders' interests in respect of various legal, regulatory and financial matters.
Corporate Governance
Includes working to increase effectiveness of the Boards of Directors, including the recruitment of independent directors and establishing fully functioning Board committees; updating and enforcement of the Group corporate statute which governs decision-making in the Group; Improving transparency of the Group through the Group's website and publication of the Group annual report.
Investment Planning
Responsibilities include the development and implementation of Group-wide standards for evaluating and approving investment decisions; Issuance of policy manuals to our companies regulating the approach, process, methodology and format to investment decision-making; Enforcement of investment decision-making regulations; Monitoring and control over individual investment projects; Organization of the work of our companies' Investment Committees including assistance in preparing major investment decisions taken by the Investment Committees and Boards of our companies.
Strategic Planning
Responsibilities include developing and implementing Group-wide standards and recommendations to facilitate meaningful and timely strategic planning in our companies; Critical analysis of strategic plans, operating plans and budgets through direct work with our companies' management and active work on the Board and Board committees of our companies; Support to our companies in development and implementation of an effective system of key performance indicators (KPIs) and assistance in developing KPI-based compensation mechanisms.
IT Development
Includes assessment and control of matching IT strategies with business objectives; Development and introduction of the efficient monitoring and control mechanisms for the Group companies’ IT services, including budgeting and key projects; Optimization of Group companies’ IT expenses through negotiation of Group framework agreements; Advisory support to management of our companies; Organization and participation on the Group’s IT, Security and Audit Boards which were established to transfer best practices and share expert knowledge.
Organizational Structure and Human Resources
Includes the provision of assistance to our companies in hiring key management, finance and other senior personnel; Conducting organizational audits of our companies; Establishing appropriate systems of motivation and compensation.
Special Projects
Includes significant involvement in facilitating Group acquisitions and divestitures as well as Group restructurings and other ad-hoc projects.
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