Government changes procedure for selecting supervisory councils of state-owned enterprises

Government changes procedure for selecting supervisory councils of state-owned enterprises

The government has amended resolutions to reform the procedure for selecting supervisory boards of state-owned enterprises.

The press service of the Ministry of Economy reported this, according to Ukrinform.

"On December 1, the Cabinet of Ministers of Ukraine adopted a resolution to strengthen the procedures for selecting independent members of supervisory boards and managers for the largest state-owned enterprises regulated by Cabinet of Ministers resolutions No. 777, No. 142, No. 143," the statement said.

The main changes include improving the mechanism for searching for candidates; introducing verification by professional recruitment consultants of the business reputation and independence of candidates for the positions of independent members of supervisory boards of enterprises of particular economic importance.

It also provides for a mechanism for the management entities of such enterprises to verify the business reputation of candidates for state representatives on their supervisory boards.

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In addition, the rules of procedure for the committee for the appointment of managers of enterprises of particular importance to the economy are being improved.

The ministry emphasized that the decision is aimed at fulfilling one of the conditions for Ukraine to receive macro-financial assistance from the European Union for 2023 in the amount of up to €18 billion.

As reported, on November 29, the Ministry of Economy signed a contract for the procurement of services of 'Executions Service Ukraine' PLC, which will select members of the Supervisory Board for the State Enterprise 'Energoatom'.

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