Chairman of the Board of NJSC Naftogaz Ukrainy Oleksiy Chernyshov supports strengthening the role of supervisory boards in the activities of state-owned enterprises and expects the adoption of an appropriate law that would regulate this.

“This year we are expecting a bill (No. 5593-d dated July 6, 2021), which concerns strengthening the role of supervisory boards in the life of state-owned enterprises. This, in particular, includes the adoption of financial plans and the appointment of board chairmen. This is necessary to depoliticize this system,” Chernyshov said at the Kyiv International Economic Forum on Thursday.

He noted that Naftogaz has already made a decision at the level of the supervisory board on the appointment and election of the chairman of the board exclusively by him.

“It is the supervisory boards that should make these decisions. This is why we invited them, so that they develop our companies,” he emphasized.

He expressed conviction that the state should be only where it is needed, and that it is an ineffective manager, according to him, is known to everyone, and not only in Ukraine.

“We must ensure that state-owned enterprises develop. For this, there are issues of corporate governance,” Chernyshov noted.

In general, he emphasized that Ukraine does not have time to wait for the end of the war to carry out reforms, including in the energy sector.

“We must do this now, and then we will have a chance to ensure a gradual growth of our GDP and economy,” the head of Naftogaz is confident.