Naftogaz Supervisory Board establishes four permanent committees

The new Naftogaz Supervisory Board has established four permanent committees which serve as advisory bodies, and has elected heads for each of them.

Advisor to the Prime Minister of Ukraine on energy issues Nataliya Boyko became the deputy chairperson of the Supervisory Board.

Committees of the highest governance body:

  • Audit committee
  • Nomination and remuneration committee
  • Ethics committee
  • Strategy committee

Richard Hookway, who brings more than 33 years of experience at BP as a hydrocarbon trading and finance specialist, was elected chair of the audit committee.

Ludo Van der Heyden, the founding director of INSEAD's Corporate Governance Initiative as well as co-director of the International Directors Programme and the Modern Governance in Banking, headed the nomination and remuneration committee.

Chairperson of the Supervisory Board Anthony Marino will lead the ethics committee. He has over 38 years of experience in the field, having held the positions of executive director, president and CEO of Vermilion Energy, an international hydrocarbon exploration and production company with a market capitalization of $4 billion.

The strategy committee will be led by Thor Martin Anfinnsen, a specialist with over 30 years of experience at the Norwegian state-owned oil and gas company Equinor (Statoil).

We recall that on February 10, 2023, Anthony Marino was elected as the chairman of the Naftogaz Supervisory Board.

Background information

According to the current Naftogaz Charter, the Supervisory Board can form permanent and temporary committees. The order of their formation and activity, as well as the formation of the composition, is established in line with the relevant regulations governing the Supervisory Board.

As part of the Supervisory Board, permanent committees such as the audit and risk committee, the appointment and remuneration committee, and the ethics committee must be formed.

In order to ensure the activities of the audit and risk committee of the Supervisory Board, an internal audit unit is formed in the Company.

The head of the internal audit unit, who heads the internal audit unit, is appointed by the Supervisory Board and is directly subordinate and accountable to a member of the Supervisory Board — the head of the audit and risk committee.

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