Fruit Armenia OJSCo. Establishment and Activities
FA establishment; FA was registered in February 2012. The responsible governing bodies of FA are the Shareholders Meeting, Board of Directors (Board) and Managing Director (MD). The main principles for the conduct of FA’s business are stipulated in FA’s Charter (Charter), Armenian Company Law (Company Law), and the Performance Contract between FA and the Government (to support the Government in safeguarding that FA’s activities are in compliance with the Financing Agreement).
Shareholder of the FA. According to Company Law, the General Meeting of the Shareholders is the highest management body of FA,3 and FA shall assemble an Annual General Meeting of Shareholders once in a year. The General Meeting of Shareholders should be used to ensure appropriate Board composition and that the Board has been able to guide the FA’s Executive Management towards achieving the FA’s objectives set out in its Charter.
Board of FA. The Board is responsible for the overall management of the FA’s activities, including overseeing the MD’s performance, and taking the necessary actions consequently. The Board shall act on the basis of the FA’s interests, exercising their rights and performing their obligations in regards to FA in good faith and in a reasonable manner, and in accordance with the FA Charter.
Executive Arm of FA. The management of the day-to-day activities of FA is the responsibility of the MD. The MD is the main responsible body for taking initiative and managing FA’s financial and human resources towards reaching FA’s objectives. This includes using such resources proactively for catalyzing and promoting initiatives, exploring opportunities and recommending solutions to identified obstacles in accordance with the FA Charter, Company Law and FA’s contractual obligations.
Strategic Business Plan. The FA has developed a Strategic Business Plan (SBP) to guide the company forward. The SBP presented to the mission contained however historical and outdated findings and analysis, which should be replaced by a brief summary on the background for establishing FA.
Progress in year 2013
Planned activities for year 2014
