Oschadbank and Ukreximbank had no supervisory boards for almost seven months. As we reported in December 2023 (see Issue 113), even though the Cabinet of Ministers appointed the new independent members of Ukreximbank’s supervisory board on May 30, the same ordinance appears to have blocked the board’s work. Under the ordinance, independent members serve for three years from the date on which all independent members officially assume their roles.
Ukreximbank has been operating without a supervisory board for over six months. Despite the fact the Cabinet of Ministers appointed the new independent members of Ukreximbank’s supervisory board on May 30, the same ordinance of the Cabinet appears to have blocked the board’s work. According to that ordinance, independent members serve for three years from the date on which all independent members officially assume their roles.
Cabinet approves Ukraine’s action plan to implement OECD’s program for Ukraine. The action plan matches the projects stated in the four-year Country Program launched by OECD and the Government of Ukraine on June 7. Policies to improve the financial market and corporate governance in 2024-2025 will be reviewed.
Naftogaz takes over another two of Firtash's gas distribution companies. On Oct. 20, Gas Distribution Networks of Ukraine LLC (Gazmerezhi brand), a Naftogaz subsidiary, reported that Volyngaz came under state control and joined Naftogaz Group. According to the company, this was driven by the need to address strategic energy challenges in the event of hostile attacks on the grid.
On Sept. 29, United Mining and Chemical Company (UMCC) said that the State Property Fund (SPFU) changed the company’s executive board, dismissing first deputy CEO Yaroslava Maksymenko and replacing her with Yegor Perelygin. According to liga.net, Perelygin headed UMCC from August 2021 to April 2022. The executive board now also includes deputy CEO Dimitri Kalandadze, deputy security and audit director Valeriy Papenko, and former branch head Valeriy Zakharenko.