Ukrainian government appoints Naftogaz's supervisory board

The decision was made at a government meeting on January 24, Naftogaz of Ukraine informs.

The former senior vice president of the Norwegian company Equinor (Statoil) Anfinnsen Tor Martin, INSEAD business school professor Ludo van der Heyden, Vermilion Energy president and CEO Marino Anthony and Hookway Richard, who has 33 years of experience at BP, have been appointed as independent members.

Natalia Boiko, adviser to the Prime Minister of Ukraine on energy issues, and Rostyslav Shurma, deputy head of the President's Office, became representatives of the state in the supervisory board.

The Supervisory Board was elected based on the results of an independent competition in accordance with the Principles of Corporate Governance and the Guidelines of the Organization for Economic Cooperation and Development.

"Naftogaz must be managed in a transparent and efficient manner in the interests of the citizens of Ukraine, first of all. Therefore, I am very grateful to the government for electing the supervisory board. It must ensure transparency and control over the work of the company's board in accordance with the requirements of the OECD. This is a very important step aimed at restoring trust in the work of the entire Naftogaz Group, which is one of my key tasks as the head of the Group," said Oleksii Chernyshov, Chairman of the Naftogaz Board.

Since September 27, 2021, the supervisory board has been out of operation due to the termination of the powers of all its members. From that time its functions were performed by the Ukrainian government.

On November 4, 2022, Oleksii Chernyshov appealed to the government to restore the work of the company's supervisory board, as chairman of the board of Naftogaz of Ukraine.

For reference.  According to the current charter of Naftogaz, the composition of the Supervisory Board is established by the Cabinet of Ministers, a total of 7 independent members.