Management Board
The Management Board is responsible for delivering the Fund's strategic priorities in sustainability. The Chairman of the Management Board is appointed by a decision of the Sole Shareholder, and members of the Management Board are elected by a decision of the Fund's Board of Directors.
The Management Board sets a unified financial, investment, production and economic, scientific and technical, HR and social policy for the Group's companies; agrees the appointment of heads of the executive bodies of national companies; takes measures to deliver investment decisions and projects; approves methodological guidelines and corporate standards for controlled organisations; and reviews the companies' performance and submits the corresponding reports to the Fund's Board of Directors.
The distribution of responsibilities and powers among senior staff is set out in the Fund's internal documents, providing a clear delineation of areas of responsibility.
Composition of the Fund’s Management Board
Nurlan
Zhakupov
Member of the Board of Directors, Chairman of the Management Board of Samruk-Kazyna JSC
Aidar
Ryskulov
Managing Director for Economics and Finance
Saltanat
Satzhan
Managing Director for Development and Privatisation
Yelzhas
Otynshiyev
Managing Director for Strategy and Asset Management
Nikolay
Kazutin
Managing Director for Legal Support, Compliance and Risk
Bakhytzhan
Taubayev
Co-Managing Director for Strategy and Asset Management
Ablaykhan
Ospanov
Managing Director for Digitalisation
Remuneration of Management Board members consists of a fixed and a variable component. The variable component is tied to the achievement of medium-term goals and is set in accordance with corporate and functional KPIs approved by the Board of Directors. ESG indicators are an integral part of these.
In 2025, the key performance indicators of Management Board members included the following sustainability indicators:
Share of in-country value in procurement
Delivery of investment and low-carbon projects
Social stability
Development of a safety culture
Improved transparency
Regional social support in areas of operation
Collegial bodies operate under the Management Board to coordinate and develop specific areas:
At the operational level, the delivery of the relevant initiatives is provided by the heads of portfolio companies, who are responsible for managing specific ESG aspects, delivering programmes, action plans and other sustainability tasks, taking into account the specifics of the activities of the respective organizations.