Ukrnafta to get new supervisory board by end of 2023

Ukrnafta to get a new supervisory board
Ukrnafta to get a new supervisory board

Shareholders of state-owned Ukrnafta oil company have supported a plan to appoint a new supervisory board by the end of the year, company director Sergii Koretskyi via Facebook on Oct. 27.

“Among other things, a decision has been made to conduct a competition for the selection of a new supervisory board,” said Koretskyi.

Read also: Ukrnafta plans to launch gas station network, double production

According to him, the decision was supported by both shareholders — state-owned Naftogaz oil and gas company and the Defense Ministry.

Read also: Ukrnafta to fire several top managers, say media

In turn, the Chairman of the Board of Naftogaz, Oleksiy Chernyshov, clarified in another Facebook post that "the procedure will be completed and an independent supervisory board of Ukrnafta will be formed by the end of 2023."

Read also: Ukrnafta to manage Ukrainian gas stations owned by Russia’s Tatneft

“The current composition of the supervisory board was appointed during a difficult period when it was necessary to quickly respond to critical situations and stabilize/restore the company's work,” Koretskyi added, explaining the need to refresh the board’s composition.

On Nov. 5, 2022, Ukrnafta's shares belonging to private owners, including Ukrainian oligarch Ihor Kolomoyskyi, were classified as military property and transferred to the Defense Ministry. The other half of the company is owned by Naftogaz.

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Read the original article on The New Voice of Ukraine