Editor’s Note: This is issue 159 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 15-22, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Updated IMF Memorandum. On Dec. 20, the International Monetary Fund (IMF) published an updated Memorandum of Economic and Financial Policies (MEFP) following its sixth review under the Extended Fund Facility (EFF) program for Ukraine. Ukraine’s commitment related to state-owned banks is as follo

Editor’s Note: This is issue 158 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 9-14, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs The Cabinet of Ministers completes the composition of Ukrenergo’s new supervisory board. On Dec. 10, the Cabinet of Ministers approved the candidacies of three state representatives for Ukrenergo’s supervisory board, completing the set of board candidates. The three new state representatives are:

Editor’s Note: This is issue 157 of Ukrainian State-Owned Enterprises Weekly, covering events from Dec. 2-8, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Parliament appoints Naftogaz’s CEO Chernyshov as national unity minister; CFO Chumak takes over as acting CEO. On Dec. 3, the Verkhovna Rada, Ukraine's Parliament, appointed Oleksii Chernyshov as a deputy prime minister and national unity minister. Chernyshov served as the governor of Kyiv Oblast

Editor’s Note: This is issue 156 of Ukrainian State-Owned Enterprises Weekly, covering events from Nov. 25 – Dec. 1, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs The Cabinet approves the state ownership policy, a key document for SOEs’ corporate governance. On Nov. 29, the Economy Ministry reported that the Cabinet of Ministers approved the state ownership policy designed to enhance state asset management. The state ownership policy was not publicl

Editor’s Note: This is issue 155 of Ukrainian State-Owned Enterprises Weekly, covering events from Nov. 18-24, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs State 2025 budget projects Hr 66.01 billion ($1.6 billion) in SOE net profit and dividends. On Nov. 19, the Verkhovna Rada, Ukraine's Parliament, approved Draft Law No. 12000 “On the State Budget of Ukraine for 2025." According to that law, the state budget projects a revenue of Hr 66.01 billion

Editor’s Note: This is issue 154 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 24-Nov. 17, 2024. The Kyiv Independent is reposting it with permission. Energy sector Ukraine’s energy infrastructure under attack, first in almost three months; power outage schedules are back. On Nov. 17, Ukraine’s energy minister Herman Galushchenko reported that Russia launched another massive missile and drone attack on Ukraine’s energy infrastructure. According to the minister, Russia

Editor’s Note: This is issue 153 (special issue) of Ukrainian State-Owned Enterprises Weekly. The Kyiv Independent is reposting it with permission. Ukrzaliznytsia’s corporate governance failures In this special issue, Oleksandr Lysenko and Andriy Boytsun highlight several events illustrating failures in the corporate governance of Ukrzaliznytsia. These relate to the core mechanisms intended to deter political meddling in state-owned enterprises (SOEs). This issue aims to draw the government’

Editor’s Note: This is issue 152 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 13-24, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Updated IMF Memorandum. On Oct. 18, the International Monetary Fund (IMF) published an updated Memorandum of Economic and Financial Policies (MEFP) after its fifth review under the Extended Fund Facility (EFF) for Ukraine. Ukraine’s key commitments related to state-owned enterprises and banks ar

Editor’s Note: This is issue 151 of Ukrainian State-Owned Enterprises Weekly, covering events from Oct. 6-12, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Ukrzaliznytsia’s CEO Yevhen Liashchenko filed a resignation letter, the company’s supervisory board said on Oct. 7. The board added that it planned to consider the resignation according to the applicable procedures in the coming days. There was no news on the results of that consideration at the t

Editor’s Note: This is issue 150 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 29 – Oct. 5, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Cabinet completes the composition of UDI’s supervisory board. On Oct. 4, the Cabinet of Ministers appointed Timur Bondaryev as an independent member of Ukrainian Defense Industry’s (UDI) supervisory board. This appointment completes the composition of the board, liga.net explained. Timur

Editor’s Note: This is issue 149 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 22-28, 2024. The Kyiv Independent is reposting it with permission. Energy sector Naftogaz Group made Hr 24.4 billion in consolidated net profit in the first six months of 2024, the group reported on Sept. 26 (589 million euros at the average exchange rate over that period.) This is nearly four times as much as the group’s profit in January-June 2023 (Hr 6.6 billion, or 165 million euros a

Editor’s Note: This is issue 148 of Ukrainian State-Owned Enterprises Weekly, covering events from September 15-21, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs UDI looking for a new CEO. On Sept. 19, Ukrainian Defense Industry (UDI) said that its supervisory board had launched a competitive selection for the CEO position. Candidates can apply from Sept. 20 to Oct. 4. The search and screening of applicants is done by the Ukrainian office of Odgers

Editor’s Note: This is issue 147 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 8-14, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Former Ukrenergo’s CEO Kudrytskyi interviewed. Volodymyr Kudrytskyi, who was dismissed as Ukrenergo’s CEO on Sept. 2, was interviewed by Ekonomichna Pravda (EP) this week. We selected the key issues: On dismissal: * “This story did not start last week. It is already three years old. Since the

Editor’s Note: This is issue 146 of Ukrainian State-Owned Enterprises Weekly, covering events from Sept. 1-7, 2024. The Kyiv Independent is reposting it with permission. Corporate governance of SOEs Ukrenergo’s supervisory board dismisses CEO Kudrytskyi despite objections of international partners; two independent board members step down due to political pressure. On Sept. 2, numerous reputable media — including Ekonomichna Pravda (EP), Forbes Ukraine, and Suspilne — reported that Ukrenergo’s

Editor’s Note: This is issue 145 of Ukrainian State-Owned Enterprises Weekly, covering events from Aug. 25-31, 2024. The Kyiv Independent is reposting it with permission. This newsletter was originally published before the news that state energy grid operator CEO Volodymyr Kudrytskyi was dismissed on Sept. 3 amid a wide-scale government reshuffle.   Corporate governance of SOEs Ukrenergo’s CEO Volodymyr Kudrytskyi may be dismissed, supervisory board put to test. Numerous reputable media – in