THE SPECIFIC CHARACTER OF THE BOARD OF DIRECTORSʼ ACTIVITY OF COMPANIES WITH STATE PARTICIPATION IN DETERMINING THE STRATEGY ROR THE TRANSITION TO THE PUBLIC AND PRIVATE PARTNERSHIP MODEL

The article examines the specifi character of the activity of companies with state participation, interaction features with the Federal Property Management Agency of the Russian Federation. The article examines the practice of the substantiation of the company’s withdrawal from the privatization prognostic plan and its development strategy in the form of the cluster formed on the basis of public-private partnerships (PPP). The work substantiates the logic of the Board of Directors’ practical steps in preparation for the company’s interaction with various stakeholders within the cluster being created. Being member of the Board of Directors, a professional independent director, a representative of the interests of the State in the Board of Directors, the author considers the situation «from the inside». The paper draws attention to the role of the preliminary troubleshooting of the company’s life cycle, which is important to determine the prospects for the future implementation of the strategy. The troubleshooting showed that the company is sorely in need of transformations, in order not to be trapped by the founder (the State). The alternative prospects of the company’s development with both public and business participation, is discussed. The article raises the question of institutional readiness to develop a model of public-private partnership in a given region (Sverdlovsk region) and the Russian Federation. Formal and informal institutions of business and government partnership on a particular territory, as well as their interaction, are considered. The legal framework of partnership and its legitimacy as well as the activities of the controlling bodies, coordinating the implementation of PPP projects in the interaction between the state and the business, are being examined in the paper. The author reckons the following among the informal institutions of business and government partnership: the level of social development, the culture of relations in the society, the system of control over the effectiveness (or ineffectiveness of the partnership) by the non-profit organizations and local community, the level of trust or mistrust to the state and business partnership; the partnership transparency or lack of it; equality of opportunities for all partnership members. The article substantiates the strategy for transition of a public company with 100% public stake to the cluster in the form of PPP, and achieving synergetic effect for all the stakeholders of the cluster being created. As a current member of the board of directors the author considers the project’s value of creating PPP- cluster through the prism of the cumulative value for the State, business and society.

corporate management, boards of directors, public-private partnership, institutions, stakeholders, synergistic effect, value creating

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