Extended meeting of KEGOC's Modernization Board, with the participation of Umirzak Shukeyev, the Chairman of the Management Board of Samruk-Kazyna

English

On 12 December 2016 an extended meeting of the KEGOC's Modernization Board was held with the participation of Umirzak Shukeyev, the Chairman of the Management Board of Samruk-Kazyna and Bakhytzhan Kazhiyev, the Chairman of the Management Board of KEGOC. The key themes for discussion were: 2017 Roadmap of KEGOC Transformation programme, the portfolio of projects, and the projected financial indicators of KEGOC Business Transformation programme for 2015-2020.

It was noted that KEGOC currently starting a crucial stage of the Business Transformation programme, which will implement all the initiatives that were formed in the early stages of the programme.

Bakytzhan Kazhiyev, the Chairman of the Management Board of KEGOC, said that in order to improve performance the company has optimized business processes, developed a new system for assessing the company's performance, prepared an optimal reporting system, and introduced a culture of continuous improvement.

The Company has also optimized the organizational structure, which is now based on the reference model of Samruk-Kazyna for strategic planning processes, human resource management and information technology; the structure demonstrates the interrelation between strategy, business processes, KPI tree and operating model, as well as providing transparency, clarity in the distribution of roles and responsibilities.

An important topic of discussion was the portfolio of KEGOC projects proposed for consideration by the extended Modernization Board. The portfolio includes 23 projects: 20 centralized and 3 local projects. The prepared project portfolio is a major interim result of the programme, as it grouped initiatives to improve the performance of the company from previous stages of the programme. In the next five years, the benefits of portfolio projects including the local projects for the implementation of the first phase of the programme, and the centralized projects planned for implementation by the Fund's group of companies, are expected to be more than KZT 31 billion. The participants of the meeting have reported on selected centralized and local projects.

The personal engagement plan of the transformation projects sponsors, signed by the Chairman of the Management Board, were presented at the meeting.

The Chairman of the Management Board of Samruk-Kazyna praised the work of the staff and noted that the Company had successfully completed Diagnostics and Design, the first stage of the Business Transformation Programme. Planning, the second stage of the programme is near completion.

Umirzak Shukeev also expressed satisfaction that the Company actively supports Fund's initiatives to ensure the future sustainability of the country's main power grid company and to help quickly respond to possible changes in internal and external factors.