In Ukraine, the composition of the Supervisory Board of NNEGC “Energoatom” is changing
The Government of Ukraine made a decision to prematurely terminate the powers of the Supervisory Board of NNEGC “Energoatom”, marking the first step in the company’s relaunch.
On November 11, Prime Minister Yulia Svyrydenko announced the early termination of the powers of the members of the Supervisory Board of NNEGC “Energoatom”. This decision was made as part of the corporate reform initiated in 2023. Svyrydenko emphasized that all the levers of influence, from management appointments to control over the company’s activities, are concentrated in the hands of the Supervisory Board, which was elected through a competition.
She reminded that the government did not interfere in the board’s activities and the responsibility for the situation in the company lay with it. The new board composition is planned to be submitted for government approval within a week. The Ministry of Economy, together with international partners, will participate in forming the board’s composition. The main tasks of the new body will be the rapid relaunch of management, conducting a complete audit of the company, and supporting law enforcement agencies in investigating possible corrupt actions.
In the context of these changes, Svyrydenko also requested the State Audit Office to conduct an urgent audit of “Energoatom”, including procurement. “We expect audit results in the shortest possible time. The materials will be transferred to law enforcement and anti-corruption agencies,” emphasized the Prime Minister.
These steps coincided with the large-scale anti-corruption operation “Midas” conducted by NABU and SAP on November 10, which revealed potential losses of $100 million due to corruption schemes in the energy sector, involving strategic state enterprises such as “Energoatom”.
Amidst these events, Supervisory Board representative Tymofiy Mylovanov announced his resignation on November 11.
| Date | Event |
|---|---|
| November 10 | Operation “Midas” announced to investigate corruption |
| November 11 | Premature termination of Supervisory Board’s powers |
| Expected | Appointment of the new board composition |
