Business news from Ukraine


Ukraine has started a tender to select candidates for the posts of independent members of the supervisory boards of state-owned PrivatBank, Oschadbank and Ukreximbank. According to a posting on the website of the Finance Ministry, the tender was started on April 5 and will be completed before May 10.
As reported, the Finance Ministry early April 2019 selected Pedersen & Partners recruiting company to search for candidates to the post of independent members of the supervisory board of state-owned Oschadbank, Ward Howell Ukraine to search for candidates for state-owned Ukreximbank and Talent Advisors, part of Odgers Berndtson Ukraine, to search for candidates for state-owned PrivatBank.
According to the ministry’s report, candidates who want to take part in the tender must apply to these recruiting companies by April 25.
As reported, the Verkhovna Rada early July 2018 adopted a law on the reform of the supervisory boards of state-run banks, according to which the supervisory board of state-owned banks should consist of nine members. Six of them should be independent, three – representatives of the state, one each from the president, the Cabinet of Ministers and the parliament.

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Ukraine’s Minister of Regional Development, Building, Housing and Utilities Hennadiy Zubko has set up a commission to select independent members of the supervisory board of the Ukrainian Energy Efficiency Fund. The commission starts work on August 29, according to the ministry.
Six representatives from the European Union, Germany and Ukraine’s Cabinet of Ministers are on the commission. The members include Head of Operations Section 3 “Economic Cooperation, Energy, Infrastructure and Environment” of the Delegation of the European Union to Ukraine Johannes Baur, Member of the Support Group for Ukraine (SGUA) Krzysztof Gierulski, and Project Manager of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH Robert Kuenne.
Deputy Regional Development Minister Eduard Kruhliak, Deputy Finance Minister Yuriy Heletiy and Director of the economic development department of the Cabinet’s Secretariat Valentyna Yashchuk are also members of the commission. According to the Regional Development Ministry’s press service, the Hudson recruiting company will also be hired.
The press release said the commission would determine requirements for candidates and define the list of documents for participating in the competition, as well as the procedure and stages of selection, including criteria for evaluating members of the fund’s supervisory board.
As earlier reported, the Regional Development Ministry had planned to announce the competition in September. Ukrainian associations of apartment building coops may be able to apply for the fund’s energy efficiency programs from 2019.
On July 25, the Regional Development Ministry registered state-run the Ukrainian Energy Efficiency Fund in the United State Register of Legal Entities, Individual Entrepreneurs and Public Organizations. Yulia Holovatiuk-Ungureanu was appointed acting fund director. On July 26, the Cabinet decided to increase the fund’s charter capital by UAH 1.5 billion, to UAH 1.6 billion, using budget funds.

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The Ukrainian government has posted the conditions for tenders to select independent members of supervisory board of Ukrzaliznytsia and Ukrenergo on its website. The documents for participating in the tender can be submitted before May 14. The tender will start on May 21, and its results will be published on the government’s website before July 3, 2018.
Candidates for an independent member of the supervisory board of Ukrzaliznytsia should have at least 10 years’ period of service in senior positions in companies or in the civil service, in particular in such areas as railway transportation, finance, engineering, accounting and audit, management, business administration or jurisprudence, but not limited to them; have an impeccable business reputation; fluent in Ukrainian or English.
In addition, the applicant must not be (including during the previous five years) a founder, shareholder, head, member of the supervisory board, an employee or a representative of a person to which Ukraine applies personal, special economic or other restrictive measures (sanctions), and also do not have a significant business relationship with this person. Candidates must have one or several professional competencies in the following areas: strategic management, rail transport, operational efficiency, finance and audit, corporate governance, compliance and risk management, international relations.
The similar requirements are put forward to the candidates for the position of independent member of the Ukrenergo: no less than ten years of experience in senior positions in companies or in the civil service in the electricity sector, regulation of energy markets, finance, accounting, engineering, management, business administration or law.
Potential members of the supervisory board of Ukrenergo must meet the criteria of independence in accordance with the requirements of the legislation of Ukraine and the EU, pay to the position at least 30 working days a year, be fluent in Ukrainian or English, have a basic understanding of the laws regulating the scope of activities of Ukrenergo and the EU energy market, trends and prospects of the industry.
Key competencies of the candidates for the position of a member of Ukrenergo’s supervisory board are the following: strategic management; management of the power transmission system; competitive electricity market; operational efficiency; finance and audit; corporate governance; compliance and risk management.
The advantage will be the experience of working in supervisory boards, international companies and international markets, the experience of attracting investors and experience in managing transformational processes and complex projects of organizational change.

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