24 Jun 2024 16:12

Ukraine puts together supervisory board for Energoatom, which was earlier transformed into joint stock company

MOSCOW. June 24 (Interfax) - The Ukrainian government endorsed a supervisory board of Energoatom, the national nuclear power plant operator recently transformed into a joint stock company, composed of five members at its meeting on Friday, Ukrainian media reported with reference to the Economy Ministry.

The board includes, in particular, Timothy John Stone, former non-executive director of Horizon Nuclear Power and former senior expert non-executive director on the board of the European Investment Bank, who currently chairs the United Kingdom's Nuclear Industry Association.

Another Energoatom supervisory board member is Michael E. Kirst, founder and managing director of EuroAtlantic Partners, who earlier served in executive positions at Westinghouse Electric Company.

A third independent member of Energoatom's supervisory board is Jarek Niewierowicz, former Lithuanian energy minister and currently chief advisor to the Lithuanian president on the environment and infrastructure. He has previously held several positions at the Lithuanian government related to power transmission system operations, the management of investment funds, and cooperation with national and transnational corporations.

The Ukrainian state on Energoatom's supervisory board will be represented by Timofei Milovanov, former Ukrainian economic development, trade, and agriculture minister and currently president of the Kyiv School of Economics, and Vitaly Petruk, secretary of state at the Economy Ministry, who headed the state agency for the management of the Chernobyl exclusion zone in 2015-2019.

As reported, the Ukrainian government decided to transform the National Nuclear Power Generating Company Energoatom state enterprise into a joint stock company on December 29, 2023. The official registration of the newly-established joint stock company and its statute took place in January 2024, and the company received a registration certificate for an equity issue amounting to over UAH 306 billion in February 2024. The company is wholly owned by the state.

The official exchange rate as of June 24 is UAH 40.45/$1.