Naftogaz CEO: the US demand to add another member to the Supervisory Board of the NJSC is absolutely feasible

Naftogaz CEO: the US demand to add another member to the Supervisory Board of the NJSC is absolutely feasible

In particular, the United States is demanding that additional members be appointed to the supervisory boards of Ukrenergo and Naftogaz within the next three months

Naftogaz CEO: the US demand to add another member to the Supervisory Board of the NJSC is absolutely feasible

Oleksiy Chernyshov, CEO of Naftogaz of Ukraine, believes that the US condition for the Ukrainian authorities to expand the company's supervisory board by an additional, seventh member is absolutely feasible.

"This is not a problem at all. Today, the Supervisory Board has the minimum required composition, which is fully formed. It consists of four independent members and two state representatives. One more representative from the state will be added. This condition is absolutely feasible," Chernyshov said in an interview with Interfax-Ukraine on the sidelines of the Energy of Business forum.

He added that "even the absence of an additional member of the NJSC's Supervisory Board does not pose any problem in promoting corporate governance reform, and Naftogaz remains a model of this reform."

As reported earlier, the US Embassy confirmed that it had handed over a letter to Ukraine with a list of reforms necessary for EU integration and further military assistance to Ukraine.

The letter, in particular, requires additional members to be appointed to the supervisory boards of Ukrenergo and Naftogaz in the next three months.

The Cabinet of Ministers appointed the supervisory board of Naftogaz on January 24, 2023.

Anfinsen Thor Martin, Ludo van der Heyden, Anthony William Marino, and Richard Mark Hookway became independent members of the board, and Natalia Boyko and Rostyslav Shurma became state representatives.

Background. As a reminder, Naftogaz has recently come out of default by making the required payments on its Eurobonds.

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