The Supervisory Board changed its decision and left Zaichenko as the head of Ukrenergo – the media

Ukrenergo Supervisory Board changed its decision and agreed to leave Vitaliy Zaichenko, who expressed distrust last week. This was reported by RBC-Ukraine and Economic Truth.

According to the media, the Supervisory Board approved the relevant decision after a few days of consultation with the shareholder – the Ministry of Energy of Ukraine.
The board of the company remains in the same composition as it was, and the chairman of the board remains Zaichenko.

According to sources, after the Ministry of Energy’s order on the need to make decisions by the Supervisory Board, not only in Kiev, which was adopted last Friday, on Monday, foreign members of the HP arrived in Kiev and began consultations with representatives of the shareholder.

It is reported that these negotiations lasted three days – until Wednesday, and the Ministry of Economy Management was also involved.

On September 26, the Supervisory Board of Ukrenergo released Vitaliy Zaichenko from the post of chairman of the board and appointed Alexei Brecht temporarily acting.

According to the media, the decision to dismiss Ukrenergo chairman was made in response to the results of the inspection by the National Securities and Stock Market (NCSSMC). The check showed that two members of the board – Ivan Yuryk and Oleg Pavlenko – were appointed in the summer. These violations were not eliminated in time, so the Supervisory Board decided to release not only the board members, but also Zaichenko, to whom they “lost confidence.”

Zaichenko was released three months after appointment. Prior to that, Alexei Brecht was the acting chairman of the board of Ukrenergo.

On September 29, the National Regulatory Commission for Regulation in Energy and Utilities (NERCEP) stated that Ukrenergo is obliged to report the NERCEP of any changes that may affect its independence, but the company did not do so. Also, according to the NERCEP, the fact that all members of the board were released, created a dangerous management vacuum in the company and questioned its ability to provide effective management of the transfer system.