Ukraine has formed the Supervisory Board of Ukrenergo and thus fulfilled the IMF’s requirement
11 December 2024 18:49
The government has approved three state representatives for the positions of members of the Supervisory Board of PJSC National Energy Company Ukrenergo. This is reported by the Government portal, "Komersant Ukrainian" informs.
Earlier, the Cabinet of Ministers also approved the candidacies of four independent members of the company’s supervisory board.
Thus, the selection of all members of the Supervisory Board has been completed: the state representatives in the new Supervisory Board are: Yuriy Boyko, Anatoly Guley and Alexey Nikitin. The independent members are Patrick Roland Greichen, Luigi de Francischi, Eppe Sebastian Kofod and Jan Henrik Montell.
As you know, the completion of the formation of the Supervisory Board of Ukrenergo was one of Ukraine’s commitments to the IMF.
“The search for candidates for the positions of independent members of the Supervisory Board was carried out by an international recruitment and corporate governance development company. We expect that the new Supervisory Board will strengthen the capabilities of this strategically important company and continue active cooperation with international partners,” said Oleksiy Sobolev, First Deputy Minister of Economy of Ukraine.
The international company in question is Korn Ferry, which is one of the world’s leaders in recruitment and corporate governance development, and which joined the selection of candidates.
As explained by the Ministry of Economy, the composition of the independent members of the Supervisory Board of Ukrenergo is determined in such a way as to ensure a set of competencies such as economic diplomacy, strategic finance and support, regulatory issues and strategic development.
What is known about the new members of the Supervisory Board of Ukrenergo
Yuriy Boyko has 25 years of experience in senior positions in private and public institutions in the energy sector. He was the Deputy Minister of Energy, coordinating the activities of the Directorate of the Electricity Complex and Electricity Market Development. He was a member of the previous Supervisory Board of NPC Ukrenergo.
Oleksiy Nikitin worked at NPC Ukrenergo in the Electricity Market Development Department and was the Chief Commercial Officer of PJSC Ukrhydroenergo.
Anatoliy Guley is the Chairman of the Board of the Interbank Currency Exchange and was the Chairman of the Board of Oshchadbank.
Patrick Roland Greichen is a European expert on climate and energy issues, served as State Secretary at the Federal Ministry for the Economic Affairs and Climate Protection, and headed the leading European think tank Agora Energy Transition.
Luigi de Francischi – was responsible for regulatory affairs at TERNA, the Italian electricity transmission system operator, served as Vice President of the Montenegrin GTS operator CGES and was a member of the Board of ENTSO-E for more than six years. Luigi has already held the position of an independent member of the Supervisory Board of Ukrenergo in 2019-2021, responsible for strategic transformations.
Jeppe Sebastian Kofod is an expert in energy and security issues, has experience in public administration as Minister of Foreign Affairs of Denmark (2018-2022), as well as experience as a member of the European Parliament and the Danish Parliament.
Jan Henrik Montell – served as CFO of a Finnish electricity transmission system operator, worked as a partner at KPMG, an international audit firm, and has experience as a board member of Nord Pool, a Scandinavian energy exchange.
Why was it necessary to form a new composition of the Supervisory Board of Ukrenergo?
on September 2, the Supervisory Board of Ukrenergo held an extraordinary meeting at the initiative of the Chairman of the Management Board Volodymyr Kudrytskyi, who presented a report on ensuring the protection of high-voltage network facilities during Russian attacks and the situation around the company in the public sphere.
During the meeting, the majority of the Supervisory Board members decided to terminate Volodymyr Kudrytskyi’s powers as Chairman of the Management Board of the Company by mutual consent.
on September 3, independent members of the Supervisory Board of NPC Ukrenergo Daniel Dobbeny and Peder Andreansen resigned, as they considered the early dismissal of Volodymyr Kudrytskyi as the Chairman of the Management Board to be politically motivated.
“We have submitted our written resignations as members of the company’s supervisory board. We believe that the decision to dismiss the head of Ukrenergo is politically motivated and, according to the report presented, has no justified grounds,” Daniel Dobbeny and Peder Andreansen explained their decision to resign.
They also stated that from the first days of their work on the Supervisory Board of Ukrenergo, namely, since December 2021, they felt political pressure and observed constant attempts to appoint people whose professional qualities were questionable to the company’s board bypassing the competition.
As Daniel Dobbeny and Peder Andreansen emphasized at the time, violating the principles of corporate governance and deciding to dismiss its CEO without proof of mismanagement is unacceptable.
on October 11, it was announced that a competitive selection would be held for the positions of three independent members of the Supervisory Board of the Private Joint Stock Company National Energy Company Ukrenergo.
In parallel with the dismissal of Volodymyr Kudrytskyi, it was decided to launch a competition to select a new chairman of the company, and since all the necessary competitive procedures require at least 3 months, Oleksiy Brekht, who was responsible for the operation and development of the grid at Ukrenergo, was appointed acting chairman of the NPC.
