Cabinet to temporarily assume functions of Energoatom's supervisory board

The Cabinet of Ministers has temporarily assumed the functions of Energoatom’s supervisory board pending the selection process. G7 ambassadors recommended forming a new board through a transparent selection process by the end of the year. This move is a response to the corruption scandal involving the "Mindich tapes."

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The government will temporarily assume the functions of the supervisory board of NAEK "Energoatom" while the competition is held. This is one of the recommendations of the ambassadors of the Group of Seven countries. The Ministry of Economy reported this.

G7 recommendations

Representatives of the Group of Seven stressed the need to form a new supervisory board through an open, competitive and transparent selection process. The selection should be conducted according to OECD standards and with the involvement of an independent recruiter.

"To restore trust, we need to form the composition of the new supervisory board in accordance with OECD standards and with the participation of an independent recruiter, as well as according to procedures that are provided for all strategic Ukrainian state enterprises"

– said Minister Oleksiy Sobolev.

Deadlines and procedure

The competition and appointment of the renewed supervisory board of NAEK "Energoatom" must take place by the end of this year. State representatives on the company's board will also be chosen based on the results of the competition.

The government expressed gratitude to G7 partners for supporting corporate governance reforms and for their readiness to contribute to the rebooting of Energoatom's management system.

Background to the decision

After the publication of the "Mindich tapes," the Cabinet of Ministers dismissed Energoatom's supervisory board and promised to urgently select a new composition that will appoint a new head of the company.

Prime Minister Yulia Svyrydenko announced last Monday that the new supervisory board should be formed within seven days. The Minister of Economy confirmed that it is possible to appoint the board within that timeframe and said that the government is discussing the appointment of a short-term acting head of Energoatom with the G7.

Role of the G7

The G7 ambassadors' mission includes diplomatic representatives of the United States, the United Kingdom, Germany, Italy, Canada, France and Japan, as well as the European Union Ambassador Katerina Maternova.

The Group of Seven countries are the main financial donors to Ukraine, on whom a significant part of the state budget depends. Under the ERA initiative alone, they have pledged to allocate $50 billion to Ukraine in 2025–2026.

Context

On November 15, the G7 ambassadors reacted to the "Mindich tapes," welcoming President Volodymyr Zelensky's willingness to cooperate and support an independent investigation by NABU and SAP.

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