Ukraine Appoints New Supervisory Board for Energoatom with Mandate for Swift Leadership Change and Audit

New Supervisory Board Appointed for Energoatom

According to Кабмін: The Ukrainian Government has appointed a new seven-member supervisory board for the National Atomic Energy Company (Energoatom). The board comprises four independent international experts and three state representatives. At its inaugural meeting, the board was given an urgent mandate to appoint new company leadership and conduct a comprehensive review of its past operations.

This appointment follows a nomination process and a competitive selection that involved independent representatives from the EU, the EBRD, the IFC, and the Business Ombudsman. The full and transparent procedure meets the requirements for strategically important state-owned enterprises. This move is part of broader efforts to align Ukraine's energy governance with international standards, a critical priority for the nation's stability and EU integration.

“The Government has taken all necessary steps to reset the company's management and adhered to partner recommendations to conduct the competition in a full, not abbreviated, format.”

Yuliia Svyrydenko, Prime Minister of Ukraine

Mandate for the New Supervisory Board

During the first meeting, Prime Minister Yuliia Svyrydenko tasked the new board with urgently appointing a fresh management team. The Government has instructed that interim leadership be replaced for the duration of this process. Furthermore, the board must execute a full analysis of the company's prior activities, which will include:

• contracts,
• procurements,
• electricity sales auctions.

This review will incorporate information from law enforcement agencies, media reports, and members of parliament.

The new supervisory board members are as follows: independent members - Rumina Velshi, Laura Garbenčiūtė-Bakienė, Patrick Fragman, and Brice Boyon; state representatives - Deputy Minister of Economy, Environment and Agriculture of Ukraine Vitaliy Kindrativ, Head of the State Agency for Restoration and Infrastructure Development of Ukraine Serhiy Sukhomlyn, and State Secretary of the Ministry of Energy of Ukraine Maksym Malashkin.

The appointment of this new supervisory board is a significant step toward ensuring effective governance of Energoatom, a company that plays a pivotal role in Ukraine's energy system. The new leadership is expected to address the challenges facing the enterprise, particularly in enhancing transparency and operational efficiency. The analysis of past activities is intended to lay the groundwork for future reforms and the development of the country's energy sector.