Management Board

The Management Board is a collective executive body that manages day-to-day operations to fulfil the objectives and implement the Company’s strategy.

The Management Board’s work is based on the principle of maximum observance of shareholders’ interests and full accountability to the decisions of the General Shareholders Meeting and the Board of Directors.

The Management Board consists of six (6) members - the Chairman of the Management Board and other members elected by the Board of Directors.

In 2023, Nataliya Lyan, Managing Director for Asset Management, and Alibek Andykbayev, General Director of the Corporate Business Division, were elected to the Management Board of the Company.

Composition of the Management Board

GRI 2-11

Kuanyshbek Yessekeyev

Member of the Board of Directors — Chairman of the Management Board of Kazakhtelecom

Date of Birth: 10 June 1975

Citizenship: Republic of Kazakhstan

Date of the first election to the Management Board of Kazakhtelecom JSC: 15 March 2010

Date of the current election to the Management Board of Kazakhtelecom JSC: 16 March 2022

Ownership of the Company’s shares, shares of suppliers and competitors: None.

Education: higher

1991–1995 – Al-Farabi Kazakh State University. Specialism: Applied Mathematics, Candidate of Mathematical Sciences.

2001–2003 – Kazakh State Economic University. Faculty of Business. Specialism: «Finance and Credit.”

2015–2017 – Hult Business School, London, UK; Specialism: Finance; Degree: Executive MBA.

Place of work and positions held in organisations over the last five years:

02.2007–03.2010 – Information and Communications Agency of the Republic of Kazakhstan, Chairman.

03.2010 – present – Kazakhtelecom, Chairman of the Management Board, Member of the Board of Directors.

Part-time work and membership in the Boards of Directors of other organisations:

Chairman of the Supervisory Board of the Centre for Digital Economy Development LLP.

Lyudmila Atamuratova

Member of the Management Board of Kazakhtelecom JSC, Chief Financial Officer

Date of Birth: 1 March 1980

Citizenship: Republic of Kazakhstan

Date of election to the Management Board of Kazakhtelecom JSC: 1 June 2022

Ownership of the Company’s shares, shares of suppliers and competitors: None.

Education: higher

1997–2002 – South Ural State University (Russian Federation, Chelyabinsk); Specialism: Finance and Economics (degree with distinction); qualified as Manager, specialisation: Project Management.

1999–2001 – South Ural State (Russian Federation, Chelyabinsk), Language Centre; qualified as a Translator and Teacher of English. Specialism: Theoretical and Applied Linguistics.

2002–2003 – KIMEP University, Certificate in Finance/Accounting (applied part of MBA programme).

2021–2023 – Skolkovo Moscow School of Management, Executive MBA degree.

Place of work and positions held in organisations over the last five years:

07.2015–04.2022 – Kazakhtelecom, Director of the Project Financing Department.

05.2022–06.2022 – Kazakhtelecom, Acting Chief Financial Director.

06.2022 – present – Kazakhtelecom, Chief Financial Officer, member of the Management Board.

Part-time work and membership in the Boards of Directors of other organisations:

None.

Berik Bitabarov

Member of the Management Board of Kazakhtelecom JSC, Chief Operations Officer

Date of Birth: 18 September 1977

Citizenship: Republic of Kazakhstan

Date of election to the Management Board of Kazakhtelecom JSC: 1 May 2022

Ownership of the Company’s shares, shares of suppliers and competitors: None.

Education: higher

1994–1999 – Abai Almaty State University; Specialism: Expert in International Relations.

2021 – London School of Business, UK. Degree: Executive MBA.

Place of work and positions held in organisations over the last five years:

12.2018–09.2021 – Kazakhtelecom, Managing Director for Human Resources.

09.2021–04.2022 – Kazakhtelecom, Managing Director for Human Resources, Health and Safety.

04.2022–12.2022 – Chief Director for Human Resources.

12.2022 – present – Kazakhtelecom, Chief Operations Officer, Member of the Management Board.

Part-time work and membership in the Boards of Directors of other organisations:

None.

Alibek Indykbayev

Member of the Management Board of Kazakhtelecom, General Director of the Corporate Business Division

Date of Birth: 30 July 1988

Citizenship: Republic of Kazakhstan

Date of election to the Management Board of Kazakhtelecom JSC: 03 July 2023

Shareholding: None.

Education: higher

2018 – Muhammedjan Tynyshpayev Kazakh Academy of Transport and Communications, Specialism: Radio Engineering, Electronics and Telecommunications.

2008 – Turan University, Specialism: Finance.

Place of work and positions held in organisations over the last five years:

07.2021–10.2022 – Q Telecom JSC, Chairman of the Management Board.

10.2022–04.2023 – Q Telecom JSC, Chairman of the Board of Directors.

05.2023 – present – Kazakhtelecom, General Director of the Corporate Business Division.

Part-time work and membership in the Boards of Directors of other organisations:

None.

Nataliya Lyan

Member of the Management Board of Kazakhtelecom, Managing Director for External Assets Management

Date of Birth: 16 December 1969

Citizenship: Republic of Kazakhstan

Date of election to the Management Board of Kazakhtelecom: 03 July 2023

Shareholding: None.

Education: higher

1986–1991 – Lomonosov Moscow State University; Specialism: Computational Mathematics and Cybernetics Department.

2012–2014 – Skolkovo Moscow School of Management, EMBA degree.

Place of work and positions held in organisations over the last five years:

07.2010 – 07.2023 – Kazakhtelecom, Managing Director for External Asset Management.

07.2023 – present – Kazakhtelecom, Managing Director for External Asset Management, Member of the Management Board.

Part-time work and membership in the Boards of Directors of other organisations:

None.

Nurlan Meirmanov

Member of the Management Board of Kazakhtelecom, Chief Innovation Officer

Date of Birth: 3 August 1972

Citizenship: Republic of Kazakhstan

Date of election to the Management Board of Kazakhtelecom JSC: 2 May 2019

Ownership of the Company’s shares, shares of suppliers and competitors: None.

Education: higher

1989–1995 – Kazakh Chemical Technology Institute; Specialism: Main Processes of Chemical Production and Chemical Cybernetics.

2008–2011 – Russian Presidential Academy of National Economy and Public Administration, Doctor of Business Administration.

2011 – International Business Academy, Doctor of Business Administration.

Place of work and positions held in organisations over the last five years:

01.2012 – 05.2019 – Kazakhtelecom, Managing Director for Innovations.

05.2019 – present – Kazakhtelecom, Chief Innovation Officer.

Part-time work and membership in the Boards of Directors of other organisations:

Member of the Supervisory Board of NURSAT+ LLP.

Activity of the Management Board

In the reporting period, the Management Board reviewed and made decisions on the following main issues:

considered and approved: Roadmap for the development of Kazakhtelecom JSC’s ESG practices; annual financial statements of Kazakhtelecom JSC for 2022; annual financial statements of Kazakhtelecom JSC’s subsidiaries and associated organisations for 2022; procedure for distribution of Kazakhtelecom JSC’s net income for 2022; Kazakhtelecom JSC’s Environmental Policy and Kazakhtelecom JSC’s Sustainable Development Policy; establishment of a joint venture to implement the project for construction and operation of the Trans-Caspian fibre-optic communication line (FOCL) along the Caspian Seabed; Kazakhtelecom JSC’s investment activity parameters for 2024; Business plan for the strategic project on Data Centre Construction in Astana city;
approved: the Kazakhtelecom Procurement Budget and Cash Budget 2023, the Roadmap for implementation of Kazakhtelecom’s strategic and business initiatives — JRun programme; Kazakhtelecom’s Operating Budget 2024-2028; Action Plan for the transition of Kazakhtelecom to low-carbon development until 2032; Kazakhtelecom Stakeholder Map and Communications Plan on interaction with stakeholders for 2023; Kazakhtelecom’s Rules of Procedure, etc.

Remuneration of the Board

GRI 2-19, 2-20, 2-21

The terms and procedure for payment of remuneration to the Company’s executives in the reporting period are governed by the Rules for Payment of Performance-Based Remuneration to Kazakhtelecom’s Executives in the Reporting Period as approved by the decision of the Board of Directors dated 14.02.2023, Minutes No. 2 (hereinafter the Rules).

Key principles of the Rules:

Interrelation of remuneration with the performance of tasks that meet the interests of the Company and its shareholders;
Simplicity and transparency of the principles for setting the remuneration;
Remuneration reliant on the Company’s performance results and the employee’s personal performance.

Motivational KPIs are used to assess the performance of executives.

The procedure for evaluating executive performance consists of the following steps:

Setting motivational KPIs and their target values;
Approval of motivational KPIs;
Performance monitoring;
Calculation and approval of actual performance.

Remuneration based on the results of work for the reporting period shall be paid within the limits of funds provided for these purposes in the Company’s budget. This takers place after approval of the results of financial and economic activities based on audited financial statements for the reporting period in accordance with the established procedure.

The maximum amounts of remuneration based on the results of work for the reporting period are determined in accordance with the remuneration structure.

The total amount of salaries and all types of pecuniary incentives paid to members of the Company’s Management Board amounted to KZT 362,426 thousand in 2023.