16:13 20.09.2017

British embassy concerned about resignation of two members of Naftogaz Supervisory Board

British embassy concerned about resignation of two members of Naftogaz Supervisory Board

The British Embassy in Ukraine has expressed its concern over the resignation of two members of the supervisory board of Naftogaz Ukrainy and said that this is an obstacle to the company's becoming a profitable state asset.

"We are concerned to see the resignation yesterday of the two remaining Naftogaz Supervisory Board Members, including the Chair. We have found them to be experienced independent professionals and determined to deliver a reformed Naftogaz for Ukraine," the embassy said in a statement posted on its Facebook page.

Prior to the resignation, the Supervisory Board has been effective in, amongst other things, establishing essential Board committees, driving forward appointments, creating a rigorous system of internal control and developing an integrated strategy for Naftogaz that positions the company and its subsidiaries for future success, the embassy said.

"If properly supported, Naftogaz has the potential to become a Ukrainian success story," the statement reads.

The Embassy said that thus Naftogaz is being hindered in realizing its potential as a profitable strategic state asset.

"Going forward, it is important that future Supervisory Board Members are independent and transparently appointed, that the Ukrainian Government actively supports the reform process and that Naftogaz is allowed to move forward. This would be consistent with the undertakings made by the Ukrainian Government at the London Ukraine Reform Conference in July," the statement read.

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