EY experts conducted an external assessment of the performance of the Supervisory Board of NJSC Naftogaz of Ukraine

EY Ukraine team has conducted an assessment of the performance of the Supervisory Board of NJSC Naftogaz of Ukraine in accordance with the requirements of the Resolution of the Cabinet of Ministers of Ukraine No. 12 dated 10 January 2025. The assessment report was approved by the CMU Resolution of 29 April 2025.

“Our team has been involved in corporate governance reforms in Ukraine's public sector for many years. We hope that the external independent assessment of the Supervisory Board will not only help improve the performance of Naftogaz of Ukraine but will also set an example for other companies. We believe that these changes will contribute to improving the economic environment and building trust,” – comments Kostiantyn Neviadomski, Partner, Head of Consulting.

The introduction by the Cabinet of Ministers of the Procedure for Evaluating the Performance of the Supervisory Board of State-Owned Enterprises is another important step in the reform of corporate governance in the public sector. This step brings the approaches to the management of state-owned enterprises in Ukraine closer to international practices and aims to improve the efficiency of state-owned enterprises.

The external evaluation of the Supervisory Board's activities provides an objective analysis of the effectiveness of management structures and their compliance with modern requirements and standards, and contributes to increased transparency and accountability, as well as builds trust from the public and investors. In addition, such an assessment helps to set benchmarks and formulate plans for further development of the corporate governance system, optimize decision-making processes and ensure more efficient use of resources.

NJSC Naftogaz of Ukraine is one of the first companies in Ukraine to ensure an independent assessment of the Supervisory Board's performance in accordance with the requirements of the Cabinet of Ministers of Ukraine and an example of successful corporate governance in the public sector.

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