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The April 28 dismissal of Naftogaz CEO Andriy Kobolyev has sparked concerns over the future of corporate governance reforms at Ukaine s state-owned enterprises. (REUTERS/Valentyn Ogirenko) As Ukrainians prepared to enter an extended Orthodox Easter and May Day holiday period, the cabinet of ministers on April 28 announced the dismissal of Naftogaz CEO Andriy Kobolyev and the company’s entire supervisory board. The move came as a shock to many, with European officials commenting that it would set a dangerous precedent for other Ukrainian state-owned enterprises (SOEs). Prior to his dismissal, Kobolyev had been at the head of Ukraine’s flagship state-owned oil and gas company since 2014. He had previously survived repeated attempts to engineer his removal by successive governments and political opponents.

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