Some innovations in corporate governance in the Civil Code of the Russian Federation

The study analyzes some innovations in civil law concerning the establishment and structure of governing bodies in corporate entities. The research shows that the amendments to the Civil Code of the Russian Federation are aimed at expanding the freedom of the corporation’s founders to choose a model of corporate governance and enhancing the effectiveness of the executive bodies of the corporation. Following a number of other countries, the Russian civil law included a standard which provided an opportunity to empower a number of persons acting in concert to operate as the sole executive body or establish several sole executive bodies acting independently. At the same time, considering the overall positive effect of the new legislative rules on corporate governance, the author notes the need for legislative specification of certain clauses and the scientific justification of new legislative structures.