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09.08.2021

Statement of the UZ’s Supervisory Board regarding the position of Temporary Acting Chairman of the Management Board

The Supervisory Board (SB) of Ukrzaliznytsia (UZ) has received a request from the Temporary Acting Chairman of the Management Board, Ivan Yuryk, to be released from this assignment.

The SB has also taken note of the recommendation articulated in the resolution of the Council of National Security and Defense of Ukraine dated July 30th, 2021 and the relating communications, including instructions from the Ministry of Infrastructure, based upon the resolution of the Cabinet of Ministers of Ukraine, the Shareholder of UZ.

The SB held an Extraordinary Meeting during the weekend of August 7th-8th and agreed to accept Ivan Yuryk’s request to be released from his assignment as Temporary Acting Chairman of the Management Board as of the date of appointment of a new Temporary Acting Chairman of the Management Board. Ivan Yuryk will resume his position as the Management Board Member responsible for Finance. The SB is making its recommendation to the Cabinet of Ministers of Ukraine to give effect to the above mentioned request and decision.

The SB very much thanks Ivan Yuryk for agreeing to step up to the challenge and fulfill the responsibility at a considerable personal sacrifice for the second time in just over a year, to steer UZ during turbulent times, the most recent of which was compounded by the C-19 pandemic and its devastating impact on the economies of the countries around the entire world, and UZ.

The SB has also considered, in light of the above, the recommendation of its Remuneration and Nomination Committee, and resolved to recommend to the Cabinet of Ministers of Ukraine for its approval the appointment of Oleksandr Kamyshin as the new Temporary Acting Chairman of the Management Board for the period until the earlier of the appointment of a new permanent Chairman of the Management Board and December 31, 2021.

The process of selection of a permanent Chairman of the Management Board in a transparent and competitive manner as stipulated under the UZ Charter is underway. The selection of Human Resource consultants to help with this process is about to be completed during this week.

The strict observation of and compliance with OECD Corporate Governance principles are continuing to be practiced at UZ and its strategic plan towards the achievement of an unbundled state of the enterprise to operate in a liberalized and competitive market architecture is progressing with its implementation.