Mark Rollins ahead of schedule, on April 30, will release the post
On March 28, the shareholders of PJSC “Ukrnafta” led governance structure of the company in accordance with the requirements of the law on joint-stock companies, approved the updated Charter and the regulations on the Supervisory Board.
The Supervisory Board was updated with the inclusion of independent members. New members of the Board of “Naftogaz” as the majority shareholder became the Executive Director of NAC Yuriy Vitrenko, Director of legal Affairs, the NAC Yaroslav Teklyuk and the Director of the Department of property and corporate relations of the NAC Polina Zagnitko. The Council also includes ex-Deputy Finance Minister Olena makeieva, a member of the Strategic group of advisers to support reforms in Ukraine Andriy Boytsun and the former head of the securities Commission Oleg Brain — as independent members.
Minority shareholders (group “Privat”) was re-elected member of the Supervisory Board Uriel Zvi of Leiber and introduced its membership to Jan Manuilova. They offer three independent members of the Supervisory Board became the General Director of investment company “Online-Capital” Nikolay Pochapsky, formerly part of the Supervisory Board of the Zaporozhye plant of ferroalloys Andriy Protsyk and former head of the public organization “Union of geologists of Ukraine” Pavlo Zagorodnyuk.
The Supervisory Board has transferred the authority to appoint and dismiss the head of government that were previously in the competence of the shareholders ‘ meeting.
In this regard, it was agreed that the current Chairman of the Board mark Rollins early, April 30, will free the position. Early termination of powers of Rollins “Naftogaz” explained the desire to give the opportunity to the newly appointed Supervisory Board to exercise their authority over the election of a new Chairman of the Board. By decision of the shareholders since may 1, 2019 Oleg GEZ, acting Deputy head of the Board and Executive Vice President of sales, will perform the duties of the head of Ukrnafta to elect a new head.
In addition, the shareholders agreed to conclude contracts for the sale of 4,062 billion cubic meters of gas to Naftogaz. “Ukrnafta” will direct the money to repay the tax debt. Compliance with the terms of those contracts normal market conditions is confirmed by independent expert — “KPMG-Ukraine”, assured the NAC.
We will remind, the state, represented by Naftogaz owns a majority stake in “Ukrnafta”. About 40% of actions belong to group “Privat”, which until 2015 are completely controlled by management. Mark Rollins was appointed Chairman of the Board in 2015, after a long conflict between the government and minority shareholders.
Earlier it was reported that Ukrnafta plans to spend about UAH 380 million for the reconstruction and rebranding of filling stations 50.