On 29 November 2023, a contract was signed for the purchase of the services of EXECUTIVE SEARCH UKRAINE LLC, which will be engaged in the selection of members of the Supervisory Board for SE NNEGC Energoatom. This result is a necessary measure for implementing the plan for the transformation of SE NNEGC Energoatom into a joint-stock company, which was approved by the Cabinet of Ministers of Ukraine.

“The formation of the Supervisory Board in the newly established JSC NNEGC Energoatom will help build an effective management system and increase the level of investors’ trust in the enterprise. Therefore, the selection of a recruiting company as one of the stages of this process is extremely important,” Oleksii Sobolev, Deputy Minister of Economy, said.

During the first meeting with the winning company, the representatives of the commission discussed and agreed on the tasks of the recruiting company, including the creation of profiles and requirements for candidates for the Supervisory Board members, the selection of applicants and the preparation of a list of candidates. An announcement about the start of a competitive selection and acceptance of documents from potential candidates is expected within the next month.

The selection process will be carried out by the Nominations Committee on the Appointment of Heads of Enterprises of Critical Importance, which includes representatives of public authorities and international organizations.

Background:

The Government has adopted a decree that provides for reorganizing SE NNEGC Energoatom by transforming it into JSC NNEGC Energoatom, 100 percent of shares in the authorized capital of which are owned by the state and are not subject to privatization or alienation in any other way. The relevant decision was adopted at the meeting of the Cabinet of Ministers of Ukraine on 2 May 2023.

The decision was adopted in implementation of the Law of Ukraine On Joint-Stock Company National Nuclear Energy Generating Company Energoatom, which provides for the corporatization of a state-owned enterprise and is part of the corporate reform implemented by the state.

The plan for the transformation of SE NNEGC Energoatom into a joint-stock company, 100 percent of shares of which are owned by the state, was approved by Decree of the CMU No. 571-р of 27 June 2023. The process of transforming the state-owned enterprise into a joint-stock company should be completed by March 2024.

The transformation of SE NNEGC Energoatom into a joint-stock company will improve the efficiency and transparency of the company’s management, will contribute to the attraction of investments in the nuclear industry, strengthening of energy security and independence of Ukraine.