The Ministry of Energy amended the charter of Ukrenergo to elect a head
According to the updated charter of NPC Ukrenergo, the supervisory board can also elect the chairman of the company's board by a simple majority of votes - on the third attempt
New amendments to the charter of NPC Ukrenergo, introduced by the Ministry of Energy on June 13 after its resonant changes in May, allow for the appointment of the company's chairman of the board in several attempts. The third and final one provides for the election of the head of Ukrenergo by a simple majority of votes of the members of the supervisory board.
This is evidenced by the charter of NPC Ukrenergo, updated on the website on June 20, Energoreforma reports.
The amendments provide that the decision to appoint the chairman of the board is made by at least 5 votes of the supervisory board (SB), and it is authorized to make such a decision in the presence of at least 5 SB members, three of whom are independent.
If none of the candidates receives 5 votes in the first vote, then within 10 calendar days from the moment of its holding, a second vote is held with the same conditions for appointing the company's head.
If the second attempt does not result in an appointment, a third vote is held after 5 calendar days. At this vote, the Chairman of the Board is elected by a simple majority of the votes of the Supervisory Board members. The vote of the Chairman of the Supervisory Board is decisive in the event of an equal distribution of votes.
If the third attempt fails, the National Election Commission will decide to announce a new competition for the position of NEC Chairman. It must take place within 90 calendar days from the date of such decision.
It was previously reported that on May 19, 2025, the Ministry of Energy amended the charters of LLC "OGTSU" and "Ukrenergo" with a provision on a qualified majority vote of the supervisory boards for the appointment of managers instead of a simple majority. That is, at least four out of five members of the Supervisory Board (three independent) must vote for the head of OGTSU, and five out of seven (four independent) must vote for the head of "Ukrenergo".
Energy Minister Herman Galushchenko, during the Question Hour to the Government in the Verkhovna Rada on June 6, explained the purpose of the changes to the charters of the State Electricity Company of Ukraine and Ukrenergo as strengthening the positions of company managers before the National Assembly.
At the same time, the European Bank for Reconstruction and Development (EBRD), which is the largest creditor of Ukrenergo, sent a letter to the company and the Ministry of Finance dated June 6, in which, referring to the terms of the loan agreements, it emphasized its right to stop withdrawals of funds and send relevant notifications about early repayment of loans in connection with changes to the charter not agreed with the bank.
The bank also sent a letter to the Minister of Energy recommending that the provision on a qualified majority vote be completely excluded from the charters of NPC Ukrenergo and other state-sector enterprises.
As Ukrainian Energy reported, the Cabinet of Ministers will direct part of the $200 million grant to reimburse Ukrenergo NPC for its expenses on the construction of shelters for electrical substations, financed from its own funds.
