Who will control Energoatom: Cabinet of Ministers updates supervisory board
28 January 23:55
The Cabinet of Ministers of Ukraine has approved the new composition of the supervisory board of NAEK Energoatom. It includes leading international experts with many years of experience in the fields of nuclear energy, finance, corporate governance, and legal regulation. This was announced by Ukrainian Prime Minister Yulia Svyrydenko on her Telegram channel, calling this decision an important step in the renewal of the company’s management, according to "Komersant Ukrainian".
Who is on the Energoatom supervisory board
The new supervisory board of NAEK Energoatom consists of seven people, four of whom are independent international members.
Independent members of the supervisory board:
- Ruminah Welsh is an international expert with over 40 years of experience in nuclear safety. She previously headed Canada’s nuclear regulator and the IAEA’s Safety Standards Commission.
- Laura Garbenciute-Bakiene is a finance and audit specialist with 25 years of experience. She has held senior positions at PwC and has experience working with strategic facilities, including the Ignalina Nuclear Power Plant.
- Patrick Fragman is an international manager and former president and CEO of the American company Westinghouse Electric Company.
- Bris Bouillon is a lawyer and corporate governance expert who has held senior positions at the French energy group EDF.
State representatives on the supervisory board:
- Deputy Minister of Economy, Environment, and Agriculture Vitaliy Kindrativ;
- Serhiy Sukhomlyn, Head of the State Agency for Infrastructure Restoration and Development;
- State Secretary of the Ministry of Energy of Ukraine Maksym Malashkin.
How the competition was conducted
According to Yulia Svyrydenko, the selection of supervisory board members was conducted through a fully competitive procedure with the involvement of international partners.
“The competition was held with the participation of independent representatives of the EU, the EBRD, the IFC, and the business ombudsman in a fully transparent and competitive procedure, as required for all strategically important state-owned enterprises. The government took all the necessary steps to restart management and followed the recommendations of its partners to hold the competition in a full, rather than abbreviated, format,” the prime minister emphasized.
First tasks for the new supervisory board
During her first meeting with the new members of the supervisory board, the prime minister set a key task: to urgently appoint new management for NAEK Energoatom.
“For the period necessary for the appointment, the government has instructed that the company’s temporary management be replaced,” Yulia Svyrydenko said.
In addition, the supervisory board must conduct a full analysis of the company’s previous activities, in particular:
- contracts and procurement;
- auctions for the sale of electricity;
- management decisions from previous periods.
The analysis should take into account data from law enforcement agencies, the media, and members of parliament.
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