Meeting of OJSC KAMAZ’s Board of Directors

Today a regular meeting of OJSC KAMAZ’s Board of Directors – the first one for new members of the company’s representative management body elected on 25 June at OJSC KAMAZ’s stockholders’ annual general meeting – took place in Moscow.

In accordance with OJSC KAMAZ’s Charter, the chairman of the new membership of the Board of Directors was elected at this meeting. Sergey Chemezov, Director General of the Russian Technologies State Corporation became the chairman again.

The plan of operation of OJSC KAMAZ’s Board of Directors was also approved. The representatives of the company’s owners appointed the composition of the audit and staff committees of OJSC KAMAZ’s Board of Directors.

Tuesday, 27 July 2010

On Leave in August

For a period from 2 to 27 August the majority of OJSC KAMAZ’s employees will go on annual corporative paid leave.

The decision about it was made by OJSC KAMAZ’s management jointly with the trade-union committee as far back as last year. According to Yury Klochkov, First Deputy Director General and CEO of OJSC KAMAZ, the European auto producers normally use this practice enabling to considerably cut costs: as utilities are not used, sizable means are saved. Besides, there is no need for the KAMAZ workers to combine jobs and work for those on leave. But not all employees will be on holiday: a part of the personnel – a sale service, maintenance personnel, and some other categories of employees – will work all the same.

Suspension of production will be used for repair and modernization of equipment which usually operates round-the-clock.

Tuesday, 27 July 2010