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24.03.2020

Regarding the CEO selection process

Given the increasingly uncertain Corona Virus Pandemic emergency situation in Ukraine and Europe as a whole, and the relating emergencies that need to be attended to, the Supervisory Board of Directors of Ukrzaliznytsia has come to the conclusion that it would be impossible to execute the permanent CEO selection process in the manner and the time frame that we had planned when we started it. Let alone being able to interview potential foreign candidates face to face, it would be practically impossible to do so for domestic candidates.

The Supervisory Board therefore decided to set a new timetable for the process and place it on a slow burner for the time being to reflect the reality of the crisis that we are facing as a country. This new target timetable will be set as we get more clarity and visibility about when the Pandemic crisis may be brought under control. We will not restart the process that has made meaningful headway, nor undo what has been accomplished so far, but preserve it. Our HR recruitment consultants Boyden will continue their work under the new modus operandi.

Moving forward, as we did in the past, Ukrzaliznytsia will coordinate very closely with public authorities and our shareholder as we go through this crisis. Interim management mode in place, since termination of the previous Chairman of the Management Board, through appointment of an Acting Chairman of the Management Board, will continue in the meantime...