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Statement on the intolerance to hate speech and ethnic discrimination

January 25, 2024

The CEO Club has received accusations of an anti-Semitic stance, which is allegedly the position of the Club.

The basis for such accusations (according to the information being circulated) was a conflict between two individuals, during which mutual insults were allegedly expressed based on the ethnic backgrounds of the parties involved. According to this information, one of the participants in the conflict was named as a person who, at that time, was a member of the Club and a member of the Club's Advisory Board.

For the first time in 12 years, the CEO Club is facing such an accusation. Since these accusations absolutely do not correspond to the values and Ethical Code of the Club, we publicly express the following position:

1. We strongly and decisively condemn hate speech and manifestations of xenophobia and ethnic discrimination, and consider any offensive expressions regarding national and ethnic origin to be absolutely unacceptable.

2. In its activities, the Club is guided by internal procedures and an Ethical Code. All cases concerning conflicts between members and unacceptable behavior of Club members are considered by a special body — the Ethics Committee, which issues recommendations for decision-making to the Club's Shareholders' Meeting. Any manifestations of xenophobia, discrimination, or hostility are contrary to the Club's Ethical Code and, if confirmed, are grounds for excluding a member from the Club.

3. According to the internal procedures of the Ethics Committee, the review of a case may require significant time. Therefore, the Ethics Committee has opened a case on this situation, but at the same time, so that timely response is provided and requests are dealt with on a rolling basis, the Club's Shareholders' Meeting insisted on the member's exit from the community and satisfied his application for the same.

4. Considering the importance of the problem, the Club's Ethics Committee will analyze the internal procedures and the Ethical Code of the Club in order to fully address issues of non-discrimination and the unacceptability of hate speech, and will once again inform the Club members about the Ethical Code of the Club and the procedure for considering its violation.