Member of the Supervisory Board of Naftogaz of Ukraine, independent Director Charles Proctor resigns because of a lack of support for corporate governance reforms from the government. About it reports a press-service of Natfogaz.

The Proctor informed the Supervisory Board about his decision to retire from office on 30 September 2017.

“Over the last six months this is the second member of the Supervisory Board, who resigned. He did the former head of the Supervisory Board Yulia Kovaliv, who was the representative of the state”, – noted in the company.

The decision of the Proctor explained, “the lack of support for corporate governance reforms from the government, despite numerous promises of officials”.

He also noted that this situation not only threatens the process of corporate reform, but also requires much more time to the duties of independent Directors than is agreed in his appointment.

“The remaining members of the Supervisory Board of Naftogaz shares the frustration Proctor of the situation and his concern about future corporate governance reforms. Among other serious problems that directly affect the success of the activities of the Supervisory Board, they called the delay in approval of financial plans of the group companies in 2017, which has a negative impact on the current activities of Naftogaz, in particular on investments in priority projects in support of gas transportation infrastructure and increase domestic production of gas,” the company said.

Earlier, on 17 August, the media wrote about the desire of Charles Proctor to leave the post of independent member of the Supervisory Board of Naftogaz of Ukraine and the decision of the company to satisfy his claim.




Member of the Supervisory Board of Naftogaz dismissed because of the failure of reforms 05.09.2017

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