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Kiev’s dismissal of CEO ‘a throwback to the old days’: Naftogaz
Ukraine’s cabinet of ministers sacked state CEO Naftogaz Ukrainy Andriy Kobolev, the company said at the end of April 28. Earlier today, the company reported a loss of 19 billion hryvnias ($ 680 million) on its 2020 trading. It will be replaced by Yuriy Vitrenko, Former Naftogaz Business Strategist, effective immediately.
Kobolev was not to leave before the expiration of his contract, renewed a year ago, on March 22, 2024. However, the government suspended the supervisory board, the body empowered to take such measures, and removed it. returned directly. Kobolev had held the post since 2014.
The company said “tThe way in which a series of decisions have been taken today regarding the governing bodies of Naftogaz demonstrates a return to the practice of manual control of public enterprises.violation of the basic principles of corporate governance of public enterprises. “
Defending the results, he added: “Despite the crisis and the increase in counterparty debts due to loopholes created by state regulation, the company provided 141 billion hryvnias of revenue to the state budget in 2020, which is 13% of revenue. state last year. “
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