Under the revised governance framework, the Supervisory Board is now responsible for approving the company’s strategic, investment, and financial plans, as well as the financial performance report. In addition, the Board will submit Naftogaz’s development priorities, reflected in the shareholder’s Letter of Expectations, for government approval.
The exclusive powers of the Supervisory Board include the appointment and dismissal of Executive Board members. As the Naftogaz shareholder, the Ukrainian government is also required to conduct an independent performance evaluation of the Supervisory Board at least once every three years.
The most recent independent evaluation of the Supervisory Board was approved by the Cabinet of Ministers in April 2025. The majority of Board members are independent directors.
Corporate governance reform strengthens the company and enhances its efficiency and accountability to its ultimate owner, the people of Ukraine. The introduction of clear rules, transparent procedures, and effective oversight enables Naftogaz to operate more efficiently. This is a key step toward building trust with citizens and international partners,” commented Naftogaz Group CEO Sergii Koretskyi.
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