The government approved a plan to update the supervisory boards of energy companies after the publication of the “Mindich recordings”

The government has approved an action plan to update the composition of the supervisory boards and executive bodies of a number of state-owned energy companies.

This was reported by the Prime Minister Yulia Svyrydenko.

The main points of the government plan are as follows:

• NNEGC “Energoatom”: formation of a new Supervisory Board;
• NJSC “Naftogaz”: competitive selection for the supervisory board, formation of executive bodies of the “Naftogaz Group” (JSC “Ukrgazvydobuvannya”, JSC “Ukrnafta”, LLC “Gas Distribution Networks of Ukraine”);
• PJSC "Ukrhydroenergo": appointment of a state representative to the supervisory board, competition for the position of head of the executive body;
• LLC "GTS Operator of Ukraine": renewal of the state representative in the supervisory board, completion of the competition for the position of head of the executive body;
• SEC “Ukrenergo”: renewal of the state representative on the supervisory board;
• PJSC "Centrenergo", JSC "Energy Company of Ukraine", JSC "Ukrainian Distribution Networks", SE "Regional Electric Networks", “Nizhny Dniester” HPP, “Kremenchuk” CHP — formation of a new composition of the supervisory boards;
• SE "Guaranteed Buyer": transformation from a state-owned enterprise to a joint-stock company, formation of a new supervisory board.

The plan also provides for updating the charters, regulations on the supervisory board, and regulations on the principles of forming the supervisory board in these companies.

• The decision to audit state-owned companies followed an investigation into possible corruption in the energy sector, also known as the "Mindich recordings" or Operation “Midas”. You can read more about this case here and here.

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