Centrenergo Appoints New CEO Just Before Heating Season

Leadership Change at Centrenergo

According to Главком: The supervisory board of Centrenergo has decided to dismiss CEO Yevheniy Harkavyi, who had led the company since June 2024. Serhiy Isachenko has been appointed as the new head. This decision was made by the State Property Fund of Ukraine and the supervisory board. Responsibility for preparing and managing the 2026/2027 heating season now falls to the new management.

Harkavyi served as CEO for 22.5 months, a period marked by major challenges, including attacks by Russian forces. When he took over, the company's account held just 480,000 hryvnias. During his tenure, Centrenergo suffered over 200 strikes, and on November 8, 2025, a Russian attack caused all of its thermal power plants to shut down. Despite these difficulties, the company emerged from default and posted its highest-ever profit of 4.84 billion hryvnias, with core business earnings reaching 7.01 billion hryvnias. The company's cash balance grew to 3.6 billion hryvnias.

New Leadership and Future Plans

Serhiy Isachenko, the newly appointed CEO, has historical ties to companies within the group of Andriy Zinatullin. The leadership change marks a significant step for Centrenergo's future operations. According to the official statement on the management change, 'preparation and management of the 2026/2027 heating season now falls under the responsibility of the new leadership.'

'22.5 months of total commitment and focus, where the line between work and recovery often blurred, allowed us to navigate the toughest stages together with the team and a system that operated without the right to stop.' Yevheniy Harkavyi

Centrenergo is now beginning a new chapter under Isachenko's leadership, aiming to strengthen the company's position amid a challenging economic environment.

This leadership change comes as Centrenergo faces ongoing challenges from the war and economic instability. Under the new management, the company intends not only to ensure stable operations during the heating season but also to continue improving its financial performance. This signals the new leadership's commitment to bolstering the company's role in the energy market and adapting to current challenges.

As Centrenergo transitions to new leadership under Serhiy Isachenko, the energy sector is witnessing significant shifts. In a related development, Energoatom has increased its payroll expenses by UAH 4.5 billion, highlighting the broader trends in executive compensation and operational strategies within Ukraine's energy companies. This context underscores the importance of effective management during challenging times.