The Cabinet of Ministers updated the charter of Naftogaz and the regulations on the Supervisory Board
The Cabinet of Ministers of Ukraine within the framework of corporate governance reform confirmed changes to the charter of NJSC “Naftogaz of Ukraine” and updated the provisions on the Supervisory Board. The purpose of these changes is to increase the efficiency of management processes, to ensure greater transparency and accountability of the company in accordance with leading global standards.
“Corporate governance reform strengthens the company, increases the efficiency and accountability of its work in the interests of the owner – the people of Ukraine. The implementation of clear rules, transparent procedures and proper control allows Naftogaz to work even more efficiently. This is an important step towards strengthening the trust of citizens and international partners.” Serhii Koretskyi, Chairman of the Board of the Naftogaz Group, said.
As part of the reform, the Supervisory Board was empowered to approve the company’s strategic, investment and financial plans, as well as reports on their implementation. In addition, she is responsible for submitting to the Government the development priorities of Naftogaz of Ukraine, which are recorded in the owner’s waiting list.
The exclusive competence of the Supervisory Board includes the appointment and dismissal of the company’s board members. As a shareholder, the Government is obliged to conduct an independent assessment of the Supervisory Board’s performance at least once every three years. The last such assessment of the council’s activity was approved by the Cabinet of Ministers in April 2025. Independent members constitute the majority of the Supervisory Board.
