Government approved the Naftogaz Supervisory Board members

The Ukrainian Government has approved a new composition of the Supervisory Board in NJSC Naftogaz of Ukraine, which includes four independent members:

- Clare Spottiswoode (the UK), Chairman of the Board, Gas Strategies Group Limited, has considerable experience as executive manager and regulator, as well as experience being member of the board of directors in the oil and gas industry and expertise in corporate governance;

- Bruno Lescoeur, held senior posts in the energy sector, including senior positions in nuclear operations at "Electricite de France" (EDF), has been in charge of the largest deals and projects in the electricity and gas sector in Europe over the past two decades;

- Amos J. Hochstein, since 2014 served as the Special Envoy and Coordinator for International Energy Affairs and led the Bureau of Energy Resources (ENR) at the U.S. Department of State;

- Steve Haysom (Canada), a 7G founder, lead geologist, one of the world's best exploration and production experts, served as Senior Vice President at Seven Generations;

as well as 3 representatives of Ukraine:

- Volodymyr Demchyshyn (retained the post from the previous composition of the Supervisory Board);

- Oleksandr Hrytsenko, Chairman of the Ukreximbank Board;

- Serhii Popyk, Adviser to the Prime Minister of Ukraine on International Affairs.

The approved Supervisory Board of NJSC Naftogaz of Ukraine is completely independent, serving the aim to improve corporate governance, thereby increasing the company's competitiveness, investment attractiveness, and providing an opportunity to more effectively address the challenges in the process of securing energy independence of the State and to de-monopolize the gas market to ensure that consumers have the lowest possible market prices and are protected by receiving uninterrupted gas supplies.

It should be noted that to accelerate the reforms in the oil and gas sector, the Cabinet of Ministers of Ukraine adopted a decision to amend the resolutions of the CMU No 142 of March 10, 2017 and No. 143 of March 10, 2017, thereby changing the procedure for the selection and appointment of members of the Supervisory Board of NJSC Naftogaz of Ukraine.