The Government is consistently committed to pursuing corporate governance reform and other key reforms for Ukraine. This was emphasized by Prime Minister Denys Shmyhal during a meeting with the Ambassadors of the Group of Seven countries and the EU Delegation to Ukraine on May 14.

The Head of Government noted that Ukraine, with the help of international partners, has a good opportunity to implement corporate governance reform at the highest standards.

"Together with the Group of Seven countries and international financial partners, we have a chance to start a new page in the implementation of corporate governance reform at the main strategic companies of Ukraine," said Denys Shmyhal.

According to the Prime Minister, one of the first steps to restart corporate governance reform should be to resume the work of the nomination committee.

"It would be good to see a committee that would become not only a tool for selecting quality candidates for supervisory boards but also a platform for discussing problematic issues that we have in many companies," said the Prime Minister.

During the meeting, Denys Shmyhal asked Matti Maasikas, Head of the EU Delegation to Ukraine, to involve representatives of the European Union in the work of the nomination committee.

The Prime Minister also noted that on Thursday, May 13, representatives of the Government and the President’s Office had met with members of the Supervisory Board of Naftogaz of Ukraine. According to Denys Shmyhal, the state is ready to sign contracts with members of the Supervisory Board for the same term as with the CEO.

"Members of the Supervisory Board of Naftogaz of Ukraine have received an offer from a shareholder to stay for one year. During this time, we will conduct a transparent open selection of candidates for the new Supervisory Board, and only after that a competition for a new CEO of the company. The Government is ready to take steps to ensure the stability of the company during this transition period," the Prime Minister stressed.

Apart from that, Denys Shmyhal noted that at a meeting with members of the Supervisory Board of Naftogaz of Ukraine, they had discussed the possibility of joining the Board by the United States representative. He added that the Government would expect a positive decision of the Supervisory Board.