5 Feb 2024 13:25

Ukrainian Railways Supervisory Board chief announces establishment of new organizational structure

MOSCOW. Feb 5 (Interfax) - The Ukrainian state railway company Ukrzaliznytsia (UZ, or Ukrainian Railways) has rearranged its management structure by establishing within it an anti-corruption office, a risk management department, a compliance department, an internal security department, and an internal audit department, which started performing their functions on February 1, UZ Supervisory Board Chairman Gebhard Hafer said.

"From 1st of February 2024 the new organizational structure for ensuring good governance and anti-corruption at JSC Ukrainian Railways is fully operational," Ukrainian media quoted Hafer as saying on his social account.

All five departments are staffed with highly professional and experienced managers and a team of specialists, who will follow recommendations from the Organization for Economic Co-operation and Development (OECD) concerning corporate governance at state-owned enterprises in Ukraine (2021) and the Three Lines of Defense Model promoted by the Institute of Internal Auditors (IIA), Hafer said.

As reported, UZ had earlier set up an anticorruption office within its structure.