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Ukraine ousts energy board members over corruption scandal
(MENAFN) Ukraine announced Wednesday that the government is terminating the powers of a significant portion of supervisory board members at several state-owned energy companies, following revelations of a $100 million corruption scheme in the sector.
Prime Minister Yulia Svyrydenko stated on social media that the move, described as “immediate termination,” affects boards including that of the national gas transmission operator. She added that the Cabinet has approved a transparent procedure for selecting new board members, with the goal of completing elections for the positions by the end of the month.
Svyrydenko also instructed Defense Minister Denys Shmyhal to reset supervisory boards at defense enterprises and expects regular updates on the process. She emphasized that “Rebooting supervisory boards is an important step, as it is the members of the supervisory boards who are responsible for strategic management and control of the company's internal processes.”
The announcement followed a meeting between President Volodymyr Zelenskyy and the prime minister focused on “personnel overhaul in the energy sector.” Zelenskyy noted on social media that “It is through supervisory boards that management and oversight of internal processes in companies are carried out, and this must be ensured one hundred percent.” He also instructed the prime minister to keep Ukraine’s key partners informed about measures being taken to maintain trust in the country and its institutions.
The corruption investigation, revealed last month by Ukrainian anti-corruption agencies, centered on siphoning at least $100 million from the energy sector, particularly involving the state-owned nuclear provider Energoatom. The scandal prompted high-profile resignations, including the energy minister and the president’s chief of staff.
Observers highlight that tackling corruption is essential for Ukraine’s ambitions to join the European Union, which formally opened accession negotiations with Kyiv in June 2024. Critics note that long-standing corruption has been exacerbated by the ongoing Russia-Ukraine war, which has overshadowed previous anti-graft efforts.
Prime Minister Yulia Svyrydenko stated on social media that the move, described as “immediate termination,” affects boards including that of the national gas transmission operator. She added that the Cabinet has approved a transparent procedure for selecting new board members, with the goal of completing elections for the positions by the end of the month.
Svyrydenko also instructed Defense Minister Denys Shmyhal to reset supervisory boards at defense enterprises and expects regular updates on the process. She emphasized that “Rebooting supervisory boards is an important step, as it is the members of the supervisory boards who are responsible for strategic management and control of the company's internal processes.”
The announcement followed a meeting between President Volodymyr Zelenskyy and the prime minister focused on “personnel overhaul in the energy sector.” Zelenskyy noted on social media that “It is through supervisory boards that management and oversight of internal processes in companies are carried out, and this must be ensured one hundred percent.” He also instructed the prime minister to keep Ukraine’s key partners informed about measures being taken to maintain trust in the country and its institutions.
The corruption investigation, revealed last month by Ukrainian anti-corruption agencies, centered on siphoning at least $100 million from the energy sector, particularly involving the state-owned nuclear provider Energoatom. The scandal prompted high-profile resignations, including the energy minister and the president’s chief of staff.
Observers highlight that tackling corruption is essential for Ukraine’s ambitions to join the European Union, which formally opened accession negotiations with Kyiv in June 2024. Critics note that long-standing corruption has been exacerbated by the ongoing Russia-Ukraine war, which has overshadowed previous anti-graft efforts.
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