On October 6, a meeting of the Supervisory Board of PJSC Ukrnafta took place.
Based on the results of the discussion, the following items were approved by the Supervisory Board:
Changes to the structure of the Executive Board of the Company:
- The position of Executive Vice President for Human Resources, to which Olena Kropivianska was appointed, was introduced.
- Oleg Gez was appointed to the previously vacant position of Executive Vice President Downstream, who previously served as the Director of the Planning and Efficiency Control Department. In this capacity Oleg Gez will be responsible for the sale of products and the development of Ukrnafta's network of petrol stations.
- The position of Executive Vice President for Social Development and Sustainability has been removed from the Executive Board, but will remain in the management team of the company.
It was approved the main terms for the valuation of assets of Ukrnafta, as well as the main terms for the legal adviser who will provide legal support to the valuation and appraisal process. Ernst & Young LLC was chosen as the property appraiser, Avellum Partners LLC – as the legal advisor. The Executive Board of the Company is charged with concluding an agreement for the provision of services under conditions approved by the Supervisory Board.
Moreover, it has been decided to hold an extraordinary General Meeting of Shareholders on January 25, 2018, one of the key issues on the agenda of which will be the election of the Audit Commission of PJSC Ukrnafta.
In addition to the above decisions a number of other items were discussed:
- The Supervisory Board has reviewed the proposals of the Executive Board on the audit of financial and business activity of PJSC Ukrnafta at the request of NJSC Naftogaz of Ukraine.
- Information on the situation with the renewal of special licenses for the use of subsoil, as well as on the measures taken to recover accounts receivable, formed before the change of the management of the company in 2015.
- Various information requests from the members of the Supervisory Board
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