Ihor Kolomoisky, the ultimate beneficiary of the 1+1 media group of companies, decided to transfer his corporate rights in the media holding to the management of the workforce represented by the current director general of the company, Yaroslav Pakholchuk, according to a statement on the media holding's website on Thursday.

"I have made a decision to transfer the corporate rights that belong to me to the management of the labor collective, represented by Yaroslav Pakholchuk, Director General of Television and Radio Company Studio 1+1 LLC, who, as a representative, will act in the interests of the companies and on behalf of the labor collective," Kolomoisky said.

It is clarified that the statement was addressed to the labor collective of 1+1 media and the regulator – the National Council on Television and Radio Broadcasting.

According to the document, the powers to manage corporate rights provide for the ability of the manager to make on his own behalf any necessary decisions, except for the alienation and/or encumbrance of corporate rights owned by Kolomoisky and the receipt of dividends.

"The transfer of corporate rights to management will not lead to a change in the ultimate owner of the beneficial group 1+1 media; the decisive influence (control) remains with Ihor Kolomoisky," the media said.

It is noted that the decision was made for five years "due to the need to protect and comply with the principles of freedom of speech, impartiality and objective reporting of events, which are critical factors for the existence of a media company in a major war."

It is indicated that Kolomoisky, who has been under arrest since September with an alternative bail of UAH 3.8 billion on charges of embezzling PrivatBank funds worth over UAH 9.2 billion, for objective reasons cannot fully exercise his powers, so these responsibilities were assigned to Pakholchuk, who has been leading 1+1 media since 2019 and will continue to act in the interests of the team.

"Today, it is extremely important, especially in conditions of turbulence and a full-scale invasion, to preserve the working mechanism that has been formed over the years and ensure the continuity of the team's work to fulfil the tasks assigned to it regarding the country's information defense capability," Kolomoisky said.