Naftogaz has announced an open competition for the position of chairman of the board
The Supervisory Board of NJSC “Naftogaz of Ukraine” has decided to hold an open competition for the position of chairman of the company’s management board. Candidates will be selected based on professional criteria in accordance with the corporate governance standards of the Organization for Economic Cooperation and Development (OECD).
An international firm specializing in executive search is expected to be engaged to organize and conduct the selection process.
The work will be carried out with the support of and in coordination with the European Bank for Reconstruction and Development.
The company noted that the open competition is intended to ensure a transparent, professional, and independent selection of Naftogaz’s future CEO.
Until the selection process is complete, Serhiy Fedorenko will serve as acting chairman of the board.
Thus, the company plans to select its CEO based on the results of a formalized selection process involving an international recruitment firm and the EBRD.
The decision to hold an open competition was made amid earlier reports of the possible appointment of former Prime Minister Yulia Svyrydenko as chair of Naftogaz’s board of directors.
At the same time, the announcement regarding the launch of the competitive selection process does not specify any particular candidates for the position, and the final decision on the company’s new CEO is to be made after all stages of the competition are completed.
As a reminder, Naftogaz executives may be allowed to receive bonuses of up to 36 times their base salary per year. This provision is included in a draft Cabinet of Ministers resolution prepared by the Ministry of Economy.
Recently, NAK “Naftogaz of Ukraine” purchased massage oil, sports cream, and heartburn medication. The total cost of the four items was 1,049.64 UAH.
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