Oleksiy Chernyshov: election of a new Supervisory Board is the key to restoring confidence in Naftogaz

One of Naftogaz’s top priorities is restoration of confidence in the Company and the election of an independent Supervisory Board is a key element of this process. This was emphasized by Naftogaz CEO Oleksiy Chernyshov during the first meeting with the newly elected members of the Supervisory Board on 31 January 2023.

I am glad that Naftogaz has an independent supervisory board again. This is critical in order to increase transparency and strengthen cooperation with international partners while attracting investment. I am confident we will enjoy productive and fruitful cooperation," said Chernyshev.

The newly elected board members are expected to appoint a Chairman of the Supervisory Board from among themselves in the near future.

It should be recalled that on 24 January 2023, the Cabinet of Ministers of Ukraine elected six members of the Supervisory Board in Naftogaz of Ukraine.

From 27 September 2021 until 24 January 2023, the Company had no Supervisory Board due to the termination of powers of all its members. Until the recent election of new members, the functions of the Supervisory Board were performed by the Cabinet of Ministers of Ukraine (in accordance with Article 51 of the Law of Ukraine “On Joint Stock Companies” and the Company's Charter).

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