Ukraine’s Cabinet cancels competitive selection for Naftogaz chief's post

4 November 2022, 07:12 PM
Press room at NJSC Naftogaz of Ukraine (Photo:Artem Ilyin)

Press room at NJSC Naftogaz of Ukraine (Photo:Artem Ilyin)

Ukraine’s Cabinet of Ministers has amended the charter of Naftogaz of Ukraine and cancelled competitive selection for candidates for chairman of the company's board, according to government resolutions No. 1234 and No. 1233, published on Nov. 3.

In particular, the first resolution amends paragraph 11 of a Cabinet resolution on competitive selection of top managers for state-owned economic entities.

Currently, the procedure for selecting top managers for state economic entities will not be used for candidates competing for the post of Naftogaz's chairman.

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The other resolution, in turn, amends the state-owned company’s charter. From now on, the Supervisory Board of Naftogaz will have the right to make decisions by absentee voting. A decision is considered to have been adopted if the majority of the Supervisory Board’s members voted for it.

The government also left in Naftogaz’s charter a provision on the appointment of the chairman of the board by the shareholders at a general meeting upon nomination by the Supervisory Board.

Ukraine’s Cabinet of Ministers tapped former Minister of Regional Development Oleksiy Chernyshov to head Naftogaz on Nov. 3.

The former head of Naftogaz, Yuriy Vitrenko, resigned on Nov. 1.

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