Naftogaz of Ukraine CEO not opposed to expanding company's Supervisory Board

MOSCOW. Sept 27 (Interfax) - The United States' requirement to add an additional, seven member to the Supervisory Board of Naftogaz of Ukraine is completely feasible, the company's CEO Alexei Chernyshov said.

"This is not a problem at all. Today, the Supervisory Board has the minimum required composition which is fully formed. There are four independent members of the Supervisory Board and two representatives of the government. One more representative of the government will be added. This condition is absolutely feasible," Ukrainian media quoted Chernyshov as saying.

"Even the absence of an additional member on the Naftogaz Supervisory Board does not pose any problem in terms of carrying out the corporate governance reform, and Naftogaz remains an example of this reform," he said.

Ukrainian media outlets earlier published the text of a U.S. letter to the Ukrainian authorities containing a list of reforms that Kiev needs to implement in order to continue to receive support from Washington.

Specifically, the letter includes a requirement to put additional members on the supervisory boards of Ukrenergo and Naftogaz within the next three months.

The U.S. embassy then published a statement on its website that as part of an ongoing dialogue with Ukraine and stakeholders in Ukraine's future success, the U.S. provided a proposed list of priority reforms for discussion and feedback at the Multi-Donor Coordination Platform in Brussels.