Three foreigners will be appointed as independent members of the Supervisory Board of Naftogaz
The Nomination Committee has selected three foreign candidates to hold independent positions on the Supervisory Board of Naftogaz Ukraine, the Minister of Economic Development and Trade of Ukraine, Aivaras Abromavičius, announced at a press conference on Friday, March 25th, the press service of the Ministry reported.
The supervisory board will consist of five members, three of whom are to be independent, and two are to represent the interests of the state. Approved candidates for the post of independent members are Dr. Marcus Richards, Charles Proctor and Paul Warwick, with whom the government is planning to sign four-year contracts.
Richards has over 33 years of experience in the oil and gas industry and previously worked at British Petroleum and Dana Petroleum. Proctor has worked in the sector for more than 27 years and held management positions at British Petroleum and Genel Energy. Warwick has 32 years of experience in the field, working for ConocoPhillips and Talisman Energy.
"The Nomination Committee of the Ministry of Economy has selected three candidates for the posts of independent members of the Supervisory Board of Naftogaz. In the coming days, we expect candidates from the Presidential Administration and the Cabinet. The meeting of the Nomination Committee is planned for Monday, where the candidates from the administration and the government will be considered," Abromavičius said, according to the Ukrainski Novyny news agency.
According to the Minister, the supervisory board will have limited powers before April 2017, but after that time, it will have the right to appoint the management of the company, and will be in charge of approving financial and investment plans. The Ministry of Economic Development and Trade of Ukraine tasked recruitment agency Odgers Berndtson with the selection of the candidates for the posts of independent members.