Joint-stock company “Lifosa”
I will start from the history of the founding joint-stock company “Lifosa”. The ideas and intentions to build a large superphosphate plant in Lithuania emerged as early as in the strategy plans of 1952; however, the implementation of these plans began only in March 1959, in the geographical center of Lithuania, Kėdainiai, when “The Directorate of Kėdainiai Superphosphate Plant” started to organize construction and manufacturing activities. Actually, joint-stock company “Lifosa” is situated in Kėdainiai, it is a phosphate industry company ba
Since the year 2000, the process heat released during the sulphuric acid production process is further beneficially utilized to heat the local and Kėdainiai city objects. With the help of special steel pipe he
The mission of this company is to help the world grow the food, fe
As this company is very big, so it has over 22,000 employees. Few words about the governance structure of the company. The company’s highest-ranking governance body is the General Shareholders Meeting (GM). The Board of Directors reports directly to the GM. The primary focus of the Board itself is company strategy; it oversees strategy implementation and setting out the company’s investment policy. Reflecting the requirements of Russian law, the Board of Directors is elected annually by the GM for a term of one year. The Board of Directors appoints the General Director and the members of the Management Board annd determines the length of their terms. These executive bodies report directly to the Board of Directors. The Board of Directors works in line with a forward agenda that is updated annually. Its schedule includes six joint-presence meetings and issues requiring substantive discussion and where necessary, additional meetings are held either by conference call or, for procedural issues, by absentee vote. The Board considers all issues that are referred to it by law and the company Charter. This includes taking key decisions for the manufacturing companies and exercising oversight down through the holding’s vertical management structure. The Corporate Secretary oversees all preparations for Board and Committee meetings. All of the paperwork for the Board of Directors and the Board Committees are prepared in both Russian and English, and synchronized interpretation is provided at meetings. These efforts allow each director to express his own opinion in his preferred language.