Naftogaz Group has opted to rescind bonus payments totaling UAH 44.7 million to underperforming companies affiliated with Dmitry Firtash

During August 2023, leadership changes have taken place at JSC Mykolayivgaz, JSC Ivano-Frankivskgaz, and JSC Khmelnytskgaz, entities that were formerly part of Dmitry Firtash's Regional Gas Company.

Following an audit of financial statements initiated by the newly appointed management, it has been determined that prior decisions of supervisory boards granting unwarranted bonuses to former chairpersons and members of the management boards in May 2023 will be nullified.

Notably, all the aforementioned companies have reported financial losses, with outstanding receivables, allegations of tax evasion, and ongoing involvement in legal proceedings. These circumstances render the bonuses indefensible, and the pursuit of substantial bonuses points to misconduct on the part of the former corporate executives.

For reference: On August 15, JSC Mykolayivgaz, JSC Ivano-Frankivskgaz, and JSC Khmelnytskygaz were integrated into Naftogaz Group. The primary objective of the new management is to ensure seamless operations, judicious utilization of energy resources, stringent financial integrity, and the cessation of debt accumulation.