15:30 05.12.2016

Members of Naftogaz Supervisory Board will discuss corporate governance reform in state-owned companies at the 1st International Forum of Corporate Directors

Members of the Supervisory Board of the National Joint Stock Company Naftogaz of Ukraine will make their first public statements during the 1st International Forum of Corporate Directors to be held on December 6, 2016 in Kyiv.

Naftogaz is the first state-owned enterprise (SOE) in Ukraine to start implementing a new corporate governance system based on the OECD principles for SOEs. The Supervisory Board began working on a full-scale basis in May 2016.

Naftogaz is currently the only Ukrainian SOE in which independent directors make up the majority of the Supervisory Board. The Supervisory Board is chaired by Yulia Kovaliv, Head of the Office of the National Investment Council under the President of Ukraine. Volodymyr Demchyshyn, Minister of Energy and Coal Industry of Ukraine between 2014 and 2016, is also representing the state of Ukraine in the Supervisory Board. The independent directors are Marcus Richards, Paul Warwick and Charles Proctor, each having extensive management experience in major global oil-and-gas and energy companies.

It is expected that the entire Supervisory Board of Naftogaz will attend the event.

Olyana Gordiyenko, a member of the National Securities and Stock Market Commission, will moderate the session.

The discussion is going to cover the challenges of introducing the Western corporate governance standards in Ukrainian SOEs, including the composition of the supervisory board, issues to be tackled at the initial stage and steps going forward.

For more information on the 1st International Forum of Corporate Directors, please follow this link, call 044 221 26 35, or e-mail at: info@eventenvoy.com.ua.

Organizers: Corporate Governance Professional Association (CGPA), International Finance Corporation (IFC). The official legal partner: International Law Firm Baker & McKenzie. The official energy partner: Donbassenergo. The official educational partner: Ukrainian Corporate Governance Institute. Sessions partners: Nova Poshta, DTEK, BPU.

Event-provider: Event Envoy Company.

With support: National Securities and Stock Market Commission, ACC, IBI-Rating, PARD, UAIB, UAA, IIB, AUST, UBA.

General media partner: Newspaper BUSINESS. General TV partner: First Business Channel.., Legal media partner: Newspaper "Yurydychna Gazeta". Media partners: Liga.net, financial portal "MinFin", finance.ua, Stockworld.com.ua, InVenture. Informational partner: CFO Club Ukraine, magazine Strategic Business Review OFFSHOREVIEW.EU.

The Interfax-Ukraine News Agency is the main news media partner.

For detailed information about the Forum of Corporate Directors you can contact: tel. +380 44 221-26-35, +38044 22-88-759, e-mail: info@eventenvoy.com.ua, info@cgpa.com.ua, www.eventenvoy.com.ua , www.cgpa.com.ua.

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