The Cabinet dismissed all members of the Supervisory Board of NJSC Naftogaz

The Cabinet of Ministers of Ukraine dismissed members of NJSC Naftogaz of Ukraine from the state in the person of Yuliia Kovaliv, Nataliia Boiko and Yuliia Sviridenko, following independent directors who resigned in early September, Interfax-Ukraine reports.

“The powers of all members of the Supervisory Board have been terminated, so now the shareholder (the Cabinet of Ministers) and the new management will make all important decisions for the company,” she wrote on her Facebook page.

As reported, after receiving applications for the resignation of the Independents in early September, Prime Minister Denys Shmyhal ordered to announce a competition for the selection of three more independents to the previously announced competition for the selection of one independent member of the council.

According to him, the competition must end in November this year, so that the new composition of the Supervisory Board has enough time to determine the requirements for a candidate for the post of the Head of Naftogaz’s Board and hold a competition for his election no later than May 1 of next year.

During the absence of the Supervisory Board, if necessary, some of its functions can be performed by the Cabinet of Ministers within the framework of the meeting of shareholders, approving the necessary decisions.

To recap, five state-owned thermal power plants and combined heat and power plants will become part of Naftogaz next year.

As reported, the Cabinet of Ministers will oblige Naftogaz to allow the state audit service to audit the company's activities in 2017-2021.

Tags: The Cabinet of Ministers, Naftogaz, legislation, Top management, Vitrenko, Gas market, Shmyhal, oil and gas industry

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