Main Gas Pipelines of Ukraine has changed the CEO and the chairman of the Supervisory Board
Huberte Bettonville resigned early due to "incompetent and unacceptable behaviour of some members of the Supervisory Board"
Jan Chadam was elected Chairman of the Supervisory Board of JSC Main Gas Pipelines of Ukraine (MGU) instead of Huberte Bettonville, who had previously announced her early resignation as a member of the Board effective 20 March 2023.
This is evidenced by the company's announcement in the NSSMC information disclosure system, Interfax-Ukraine reports.
In addition, on 7 March, the Supervisory Board terminated the powers of the acting CEO of MGU Oleksandr Lisnichenko, temporarily assigning his duties to Denys Fudashkin, who has been the company's Director of Economics and Finance since December 2020.
In early March 2023, Ms. Bettonville announced in a letter to the Minister of Energy of Ukraine that she would resign as a member of the Supervisory Board of MGU.
"Taking into account the course of the Supervisory Board meetings in recent months, especially the incompetent and unacceptable behaviour of some SB members, I have decided to resign. Despite my sincere efforts for the benefit of the company and the military resistance of Ukraine, some members of the SB have proved that they will not and cannot apply EU standards and corporate governance principles," she wrote.
Until recently, the supervisory board of MGU included Huberte Bettonville, Jan Chadam, and Iryna Marushko (three independents), as well as Viktor Pynzenyk and Tatiana Fedorova (both government representatives).
Background. When the Main Gas Pipelines of Ukraine was established, it was assumed that this company would be the operator of the Ukrainian GTS. At the same time, in the process of unbundling, Naftogaz of Ukraine created the GTS Operator of Ukraine, which took over the functions of Ukrtransgaz to manage the GTS. In turn, GTSOU was transferred to the ownership of MGU.
Back in October 2021, Janez Kopač, Director of the Energy Community Secretariat, said that MGU had fulfilled its function and could be disbanded. At the same time, the Ukrainian authorities have delayed resolving this issue.
The memorandum approved in April 2023 between the International Monetary Fund and Ukraine sets a task to transfer GTSOU shares from MGU directly to the Ministry of Energy by the end of July with a corresponding change in the charter.
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