Government continues to restructure supervisory boards

On December 3, the Cabinet of Ministers of Ukraine approved the procedure for selecting candidates for the position of state representatives who are selected (appointed) to the supervisory boards of fuel and energy complex entities.

Candidates will be selected by an interdepartmental commission for the selection of members of supervisory boards of business entities.

The resolution provides for measures to terminate the powers of certain supervisory boards of key state-owned energy companies, in particular:

• Gas Transmission System Operator of Ukraine LLC;
• Centrenergo PJSC;
• Ukrainian Distribution Networks JSC;
• Energy Company of Ukraine JSC;
• Market Operator JSC.

New members of the supervisory boards of these companies must be selected by the end of December 2025.

"The supervisory board is the main body for strategic management and control of processes within companies. Our priority is to ensure a transparent and open selection of its members. This directly affects how effectively supervisory boards will perform their duties, especially when it comes to state-owned enterprises in the energy and defense sectors," said Oleksii Sobolev, Minister of Economy, Environment, and Agriculture of Ukraine.

Separately, as part of the resolution, the Government also instructed the Minister of Defense to restructure the supervisory boards of defense sector enterprises.