The Gaidar Forum 2019 discussed the development of corporate management in Russia

On January 17, on the final day of the Gaidar Forum 2019, an expert discussion “Transformation of corporate governance models in the era of the fourth industrial revolution” took place. The event was moderated by Sergei Kalendzhyan, Dean, Graduate School of Corporate Management, RANEPA, and Mikhail Kuznetsov, Director of the Center of Systemic Transformations at the Faculty of Economics, the Lomonosov Moscow State University.

In modern Russia, corporate governance is seen as an organizational model, which is designed, on the one hand, to regulate relations between managers of companies and their owners, and on the other hand, to coordinate the goals of various stakeholders, ensuring the effective functioning of companies.

Moderators Sergei Kalendzhyan and Mikhail Kuznetsov identified the topical issues of the discussion: “Can technologies based on artificial intelligence replace members of the boards of directors in the short term?”, “Interaction between machine and man in corporations of the future. Allies or rivals? How to manage a company without employees? ”,“ Man of the Future: How and what should the “digital generation” be taught?”.

As Alexander Filatov, partner of the Expert Center for Corporate Relations, noted, many Russian companies have reached a stage of development, at which insufficient attention to corporate governance issues can result in weakening of their competitive positions. The growing demand of Russian business for capital and high-quality management can hardly be satisfied without carrying out drastic reforms in the field of corporate governance.

The experts discussed the basic principles of effective corporate governance systems creating, their most common models, which are formed under the influence of regional and economic peculiarities.

The head of RVC JSC project office, Pavel Alferov, said that artificial intelligence has the greatest influence on organizational management – it is able to select candidates, monitor performance, and retain employees.

Concluding the discussion, the speakers agreed that the existence of an effective corporate governance system in the company becomes the basis for improving of financial performance, improving of management decisions quality, and receiving of a number of other benefits.

Kirill Vailunov