US expects new Ukrenergo CEO to be elected once supervisory board vacancies are filled

Ukraine must fill the vacant positions on the supervisory board of Ukrenergo, the state-owned electricity transmission system operator. Two independent members have resigned in protest at the politically motivated dismissal of the company's CEO, Volodymyr Kudrytskyi.

Source: US Ambassador to Ukraine Bridget Brink in a statement to journalists in Kyiv, as reported by European Pravda

Details: Ambassador Brink said the United States has raised the matter with Ukrainian officials, but she did not go into detail about the signals sent between the two. "I will not disclose our diplomatic communications," she said.

The ambassador linked the situation to the volume of investment in Ukraine’s energy industry. "Confidence in the independence of the institution and the independence of the supervisory board is extremely important for American investments in the energy sector, and this fully applies to private investments," she said, expressing certainty that this is very important for restoring Ukraine's energy sector and building a decentralised energy generation system.

Brink said the US is waiting for the leadership positions to be filled.

"Our recommendation is to fill the three vacant positions on the supervisory board and elect a new head of the company in accordance with OECD standards," she told reporters.

Background: Two independent members of Ukrenergo’s supervisory board resigned on 3 September, publicly citing political pressure that resulted in the dismissal of the company's CEO, Volodymyr Kudrytskyi, as the reason. They believe that Ukrenergo's corporate governance has been called into question. There had been another vacancy for an independent board member even before that, despite repeated requests from partners to the Ukrainian authorities.

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