The President, acting as the sole executive body, and the Management Board, acting as the collective executive body, are responsible for Nornickel’s day‑to‑day operations. The procedures of the Management Board are determined by the Regulations on the Management Board.
Executive bodies ensure:
the implementation of resolutions passed by the Board of Directors and the General Meeting of Shareholders;
the implementation of Nornickel’s key plans and programmes;
the continuous operation of a robust risk management and internal control system (RMICS).
President
The President is elected by the Shareholders’ Meeting for an indefinite term. The President reports to the Board of Directors and the Shareholders’ Meeting.
Members of the Management Board are elected by the Board of Directors for an indefinite term. Under the Company’s Articles of Association, the Board of Directors may terminate the office and employment contract of any member of the Management Board at any time.
Management Board
In 2025, the Company’s Management Board began the year with 14 members. At year‑end, the Management Board comprised 13 members.
In 2025, the Company’s Management Board held 28 meetings in absentia and reviewed 45 matters.
Management Board: meetings and matters reviewed
28 meetings
held in 2025
Activities of the Management Board during the reporting year
To improve management efficiency, the Management Board made a number of decisions during 2025 regarding the Company’s branch leaders and amendments to their employment contracts; reviewed the Company’s capital‑raising transactions, including those related to the placement of exchange‑traded bonds. To improve the economic efficiency of allocating funds to initiatives, including innovation and investment projects and programmes of the Company and Russian entities within the Norilsk Nickel Group that do not have a defined source of funding, the Efficiency and Innovation Committee was established under the Budget Committee of the Management Board in the reporting year, with its Regulations approved by the Management Board. Following the establishment of a new collective body under the Budget Committee of the Company’s Management Board, the Management Board approved a revised version of the Regulations on the Budget Committee under the Management Board of PJSC MMC NORILSK NICKEL. The Management Board also approved the scope of the Group’s annual self‑assessment of internal controls for 2025. In addition to the above decisions, in 2025, the Management Board pre‑reviewed and recommended that the Board of Directors approve the Company’s Annual Report, Sustainability Report, Human Rights Report, Responsible Supply Chain Report, and the new version of the Company’s Articles of Association (Version 11).
