Ex-Lithuanian Energy Minister Niewierowicz chairs Energoatom Supervisory Board – company
The Supervisory Board of JSC National Nuclear Energy Generating Company Energoatom at its regular meeting after the July inaugural meeting elected Jarek Niewierowicz as its Chair and Michael Elliott Kirst as the Vice Chair, the company has reported.
"At its meeting the Board Members elected Jarek Niewierowicz as its Chair, and Michael Elliott Kirst as the Vice Chair. The Supervisory Board also established the Committee on Audit, which will be headed by Michael Elliott Kirst," Energoatom said in a press release on Friday.
Reflecting the current absence of a third independent Supervisory Board Member (Timothy John Stone), the decisions on establishment of the Nomination and Remuneration Committees are expected to be made at the earliest opportunity once the Board receives legal determinations related to the qualified construction of these committees.
"The strategic importance of Energoatom extends also beyond the borders of Ukraine, establishing it as a key partner in regional energy security and cooperation. Our responsibility is not only to help ensure the uninterrupted delivery of essential supply of energy for the country but also to position Energoatom as a model for corporate governance and innovation," said Board Chair Niewierowicz.
According to the press release, transparency and open communication were emphasized as the guiding principles for the Board's activities. Energoatom aims to foster meaningful dialogue and collaboration with local and central governments, as well as international stakeholders.
"Energoatom's future depends on our ability to maintain trust, remain adaptable, and uphold the highest standards of governance. We will proceed with our tasks without disruption, ensuring stability and continuity for all those who rely on us," added Niewierowicz.
On January 17, Energy Minister Herman Haluschenko announced that the Supervisory Board of Energoatom would elect its chair and commence full operations.
By government order No. 566 dated June 21, 2024, independent members Stone, Kirst, and Niewierowicz were approved for Energoatom's Supervisory Board, alongside state representatives Tymofiy Milovanov and Vitaliy Petruk. However, the board has not been fully operational since its formation. According to Interfax-Ukraine sources, independent members were dissatisfied with the remuneration offered.
On November 26, 2024, the Cabinet of Ministers, by order No. 1224, approved the terms of contracts for members of Energoatom's Supervisory Board without disclosing specific details.
In December 2024, Deputy Minister of Economy Oleksiy Sobolev stated that the government awaited the independent members' stance on the contracts and their willingness to continue their roles. He added that the proposed terms were in line with salaries at other large Ukrainian energy companies.
In early January 2025, Ukrainian MP Yaroslav Zhelezniak of the Holos faction suggested involving international partners to address the lack of functionality in Energoatom's Supervisory Board.
On January 14, EU Ambassador to Ukraine Katarína Mathernová, in response to a query from Interfax-Ukraine, stated that G7 ambassadors had urged Prime Minister Denys Shmyhal to expedite the board's activation. Mathernová emphasized that a fully functioning board was critical for discussions on significant new investments.