PJSC Ukrzaliznytsia is the basis of the logistical potential of the country, and the newly appointed Supervisory Board of the company has to turn a cumbersome state holding company into a powerful and modernized structure. This was stated by Prime Minister of Ukraine Volodymyr Groysman during a meeting with members of the Supervisory Board of Ukrzaliznytsia.

The appointment of the Ukrzaliznytsia Supervisory Board has became another example when experienced management was selected to a large state-owned company, which should be transferred from a corporate debtor to a multi-billion hryvnya company, one of the most powerful players in the transport market in the region.

"The Government's key priority is to ensure economic growth of over 5%. Logistics and the capacity of Ukrzaliznytsia affect these goals", said Volodymyr Groysman.

According to the Head of Government, the essential priorities for the management of the state-owned company include to introduce high transparent standards of corporate governance, to develop zero tolerance to corruption, as well as to elaborate and introduce a clear corporate strategy. "It’s crucial to ensure retrofitting of locomotives, the rolling stock, modernization is vital for comfortable transportation of Ukrainian citizens. I emphasize that we will support both the management of the company and the Supervisory Board to achieve these goals. Your competency, reputation will be the basis for positive transformations", added Volodymyr Groysman. "Problems in the work of The Ukrzaliznytsya reduces our GDP. And these imply jobs, taxes. We need the company working. Success will be an example for other businesses."

Background

The Cabinet of Ministers of Ukraine, at its meeting on June 20, approved the composition of the Supervisory Board of PJSC Ukrzaliznytsya, who were selected by the Committee for the appointment of heads of enterprises that are of particular importance to the economy. Many managers from the USA, Germany, France, Switzerland, Austria, Lithuania and Ukraine submitted applications for the competition. The Committee first considered the applicants who achieved a significant progress in production and economic performance of the enterprises and organizations in which they worked.

As a result, the Supervisory Board of Ukrzaliznytsia included as independent members: Anders Åslund - Senior Member of the Atlantic Council and member of the Advisory Committee at the East Capital, with many years of experience as chairman of the Board of of the Scientific Council of the Bank of Finland Institute for Economies in Transition, and is also a professor at Edmund A. Walsh School of Foreign Service and Georgetown University; Sevki Aсuner - a well-known European financier with many years of experience in management in various spheres, a former Executive Director of the EBRD office in Ukraine for the last five years; Christian Kun is one of the best European managers in the field of infrastructure and rail transport, who is a member of the Board of Directors of the Lithuanian Railways, a member of the Board of Directors of the Kazakhstan Railways; Mathieu Andreas, a well-known EU executive with many years of experience as vice president, financial director, senior advisor at one of the most powerful oil companies in Europe – Austria-based OMV AG.