Government restricts powers of Naftogaz board expanding them for supervisory board
Ukraine's Cabinet of Ministers has enacted the new regulations of national joint-stock company Naftogaz Ukrainy considerably restricting powers of the board of directors and expanding them for the supervisory board.
The new regulations were published in the Uriadovy Kurier government's newspaper on December 31, 2016 and took effect.
According to the regulations, only the supervisory board now preliminarily approves the board's decisions related to the operations of companies where Naftogaz is a shareholder (public joint-stock companies Ukrtransgaz, Ukrgazvydobuvannia and Ukrtransnafta).
The decisions to appoint heads and all members of the boards of subsidiary companies and to dismiss them require the approval of the Naftogaz supervisory board.
Heads of all Naftogaz's subsidiary companies are included in the company's board.
The supervisory board is authorized to make decisions on other issues not related to the powers reserved for the supervisory board.
Advertising
Advertising
MORE ABOUT
Naftogaz and ORLEN agree on supply of 100 mcm of LNG as part of broad cooperation in this area
15:27, 07.03.2025
Russia carries out 17th attack on Naftogaz facilities
09:33, 07.03.2025
Cabinet adopts decisions necessary for signing agreement with USA on minerals – Shmyhal
20:14, 26.02.2025
Gas supply situation in Ukraine challenging but under control – Naftogaz CEO
20:15, 21.02.2025
DTEK gas production facility in Ukrainian Poltava region shut down after morning missile strike
18:49, 11.02.2025
LATEST
Canada contributes CAD 70 mln to Ukraine Energy Support Fund – Energy Community
20:36, 14.03.2025
Ukraine's Stock Market Commission presents virtual asset taxation framework to finance committee of Ukraine's Parliament
20:33, 14.03.2025
Shmyhal, Austrian FM discuss aid to Ukraine, sanctions against Russia, economic cooperation between two countries
20:31, 14.03.2025
Some 30 projects within NEFCO Green Recovery Program for Ukraine completed
10:42, 14.03.2025
Third group of REDpreneurUA program launched: support and development of existing business in Ukraine – URCS