Ukrnafta Board stops competition to select new board's chairperson, appointing Hez

12:49, 27.05.2020 1 min read

The Supervisory Board of PJSC Ukrnafta has stopped the competition for selecting candidates for the position of the chairperson of the company's board, having approved acting Chairman Oleh Hez since May 2019.

According to the company's statement in the information disclosure system of the National Securities and Stock Market Commission, the relevant decisions "due to the changing current economic situation" were adopted by the Supervisory Board of Ukrnafta on May 20, 2020.

The press service of Ukrnafta said that "after the termination of the factors that stipulated the decision, the issue of holding a new competition will be considered." At present, coordination of the working conditions for employment of Hez as Chairman of the company's board is expected.

Ukrnafta is the largest oil producer in the country. Naftogaz Ukrainy owns a 50% plus one share in Ukrnafta. A group of companies associated with the former shareholders of PrivatBank hold about 42% of the shares.