The management bodies of the Company are the General Meeting of shareholders, the Board of Directors, the Management Board and the Director General. The management of Joint-Stock Company Northern Caucasus Resorts is carried out in line with the best corporate standards.

The supreme management body of the Company is the General Meeting of shareholders.

The Board of Directors carries out general management of the Company, except for the issues attributed to the competence of the General Meeting of shareholders. The main functions of the Board of Directors are the strategic management and the supervision of the management bodies activity.

The Management Board is the collegial executive body of the Company. Its competence includes all governance issues of the current activity of the Company, except the issues attributed to the exclusive competence of the General Meeting of shareholders or the Board of Directors.

The Director General carries out the management of day-to-day activities of the Company and also serves as a Chairman of the Management Board. In accordance with the applicable law, the Director General has all the necessary powers to implement the operational leadership of the current activity of the Company, acting on behalf of the Company without any power of attorney, within the limits of his competence established by the applicable law and the Charter of the Company.