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JSC "Samruk-Kazyna" transformation program - roadmap

Roadmap of the Transformation Programm

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JSC "Samruk-Kazyna" transformation program - roadmap

  1. 1. Roadmap Transformation program JSC “Samruk-Kazyna” Version 3 January, 2017 JSC “Samruk-Kazyna”
  2. 2. Expected results of Transformation program 9 initiatives (1/4) Transformation direction Transformation initiative KPI and expected results 2014 2015 2016 2017 2018 2019 1: Value improvement focus with the core business 1A: Implement business process re- engineering Number of entities out of the targeted seven (the Fund and six industrial groups): Finished Stage 0: Preparation Finished Stage 1: Diagnosis and design Finished Stage 2: Planning Finished Stage 3: Implementation 1-phase Finished Stage 4: Implementation 2-phase 3 0 0 0 0 7 5 0 0 0 7 7 7 3 0 7 7 7 7 3 7 7 7 7 7 7 7 7 7 7 Revenue increase due to transformation activities compared to base line year 2014 (the Fund and six industrial groups)1 [%] 0 0 5% 10% 15% 20% 1B: Redefine the strategic KPIs for the fund and portfolio companies Number of entities out of the targeted seven (the Fund and six industrial groups)1 with new set of KPIs approved 1 7 7 7 7 7 Number of entities out of targeted seven (the Fund and six industrial groups)1 with new targets related to the new KPIs approved 0 0 7 7 7 7 1C: Align Portfolio companies’ strategies with the strategic KPIs Number of entities out of the targeted seven (the Fund and six industrial groups)1 with updated strategy in compliance with the new strategic KPIs approved 0 3 6 6 6 6 2: Portfolio restructuring 2А: Simplify the legal structures of the Portfolio companies Total number of legal entities across the Fund portfolio 593 500 400 300 300 300 Number of legal entity levels (including the Fund) 9 8 8 5 5 5
  3. 3. Expected results of Transformation program 9 initiatives (2/4) Transformation direction Transformation initiative KPI and expected results 2015 2016 2017 2018 2019 2020 2: Portfolio restructuring 2B: Bring public investors into core assets, and remove non-core business assets and social assets Implementation of readiness of companies targeted for IPO,SPOI − Hiring of investment advisors/banks − Ensuring readiness of report by investment advisors on the key parameters of proposed sale − Producing and approving a communication strategy and the conducting international investors events for respective companies n/a n/a n/a 0 0 0 4 3 2 2 1 3 1 2 3 0 1 1 Divestment of other 37 medium to large assets from Attachment #3 − Appointing valuation advisors where necessary and divesting of medium to large assets from attachment #3 (#) − Ratio of the actual price of sale of 37 assets from attachment 3 to their valuation (min coefficient) n/a n/a 0 n/a 20 1 17 1 0 1 0 1 Divestments of assets from attachment #4 incl. liquidation and reorganization (#) n/a 60 90 22 - - 2C: Establish new active investment approach Strategic Direction provided for investment activities Fund's Corporate Standard for investment activity approved Fund's Principles and Approaches on Identification and building new industries approved Fund's Principles and Approaches document applied for all industries New investments to follow the principles outlined Fund's Corporate Standard for investment activity approved *> 10 concepts are approved by InvCom *>10 concepts and 3 projects are approved by InvCom *>10 concepts and 3 projects are approved by InvCom Assessment of investment activities n/a Fund’s financial model is developed Development of a financial model for the 12 largest PCs Utilization of DCF model for the monitoring and assessment of investment projects n/a Development of Portfolio Investment Criteria to assess new investment activities approved Implementation of investment criteria and standards to the PC's Continual fine tuning of investment criteria Monitoring of investment activities n/a n/a Development of investment project database and monitoring dashboard n/a Development of stop/loss criteria for investment projects
  4. 4. Expected results of Transformation program 9 initiatives (3/4) Transformation direction Transformation initiative KPI and expected results 2014 2015 2016 2017 2018 2019 3: Governance 3A: Increase effectiveness of interactions with the Government Creation of GR-function in the Fund and Portfolio companies [Companies quantity] 0 0 1* 7 7 7 Reducing the correspondence rate from the Government to the Fund and PCs and requiring meaningful response vs. base line year 2014 [%] 0 30% 50% 50% 60% 70% 3B: Strengthen the ‘Commercial block’ to ensure World class asset and investment management Relative share of ‘Commercial block’ of the total Fund staff [% of headcount employees] n/a n/a 55% 60% 60% 60% Commercial block’ positions filled in with target capability level [%] n/a n/a 50% 100% 100% 100% 3C: New Governance Model Approval by the Government of new Corporate Governance Code for the Fund Х Number of portfolio companies, 100% of shares belonging to the Fund, approved new Corporate Governance code 0 16 16 16 16 16 3.1: Design and implementation of new Corporate Governance Code Number of companies out of the targeted six industrial groups1 approved the results of the GAP analysis and Action Plan on implementation of new Corporate Governance Code by the Boards of Directors of the Companies 0 3 6 6 6 6 Approval of new Methodology on diagnostics of Corporate Governance system by the Management Board of the Fund Х Number of portfolio companies with assessment of the Corporate governance system in accordance with new Methodology on new Corporate Governance Code: − agree on criteria and set the targets − run assessment 0 0 Х 0 6 6 6 * Creation of GR-function in the Fund, approval of reference model on GR for Portfolio companies
  5. 5. Expected results of Transformation program 9 initiatives (4/4) Transformation direction Transformation initiative KPI and expected results 2014 2015 2016 2017 2018 2019 3: Governance 3.2: Define BoDs in accordance with requirements of new Corporate Governance Code Number of companies out of the targeted six industrial groups with Board of Directors appointed in-line with the requirements of the new Corporate Governance Code [Number of portfolio companies out of the targeted six industrial groups1] 0 1 4 6 6 6
  6. 6. Expected results of Transformation program in HR Initiatives KPI and expected results 2014 2015 2016 2017 2018 2019 Implementation of meritocracy through job matching Number of companies with finalized job matching proses under transition to new organizational structure (CEO-1, key positions of CEO-2 upon decision of the companies) 0 0 5 12 Implementation of meritocracy principle through target processes (target processes and target HR organizational structure are implemented in the Fund and 12 PCs) Implemented processes: recruitment, performance appraisal, compensation management 7 12 Implemented processes: learning and development, succession planning, assessment of HR function satisfaction level 2 7 12 Implemented processes: HR strategy, HR metrics, organizational structure administration 5 12 Development of the Shared service center Fulfillment of the shared service center development plan 0 0 0 100% 100% 100% Meeting Shared service center KPIs from the SLA 0 0 0 100% 100% 100% Development of corporate culture Number of companies with conducted project on corporate culture development (i.e. diagnosed current corporate culture, defined target culture, developed roadmap of actions to minimize gaps) 0 0 1 5 9 12 Graduates program Number of selected participants of graduates program based on multi-stages selection process 20 20
  7. 7. Area Initiative KPI and expected results 2015 2016 2017 2018 2019 Transformation program support Development and implementation of change management methodology All group change initatives Change management methodology (Stages 1, 2, 3) is developed 1 (Стадии 1, 2) 1 (Стадия 3) Integration of change management tasks into transformation project portfolio and initiative implementation projects All CTT initiatives Change management methodology is implemented in CMG teams of 6 portfolio companies 0 2 7 7 7 Change management tasks embedded into approved centralized projects within the portfolio 0 2 7 7 7 Training and competency development Trainings All group change initiatives Training events (anso within projects) 0 1 8 9 12 Consulting and expert support All group change initiatives Expertise support projects 0 1 2 3 4 Enabling activities Online knowledge center in change and project management All group change initiatives Number of active users 0 0 100 400 600 Knowledge and facility support amongst professional communities All group change initiatives Number of events handled (conferences, infodays, forums etc) 0 0 2 5 8 Expected results of Transformation program in Change Management

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