Ukrenergo head can be elected by simple majority of supervisory board at third attempt - changes to charter
New changes to the charter of Ukrenergo, introduced on June 13 by the Ministry of Energy as the sole shareholder of the company after its resonant changes in May, allow the appointment of the chairman of the company's board in several attempts, the last of which is by a simple majority of the votes of the supervisory board members, according to the charter of the company updated on the website on Friday.
According to it, the decision to appoint the chairman of the board is made by at least five votes of the supervisory board members, and it is authorized to veto such a decision in the presence of at least five of its members, three of whom are independent. If none of the candidates receives five votes in the first vote, a second vote is held within 10 calendar days from the date of its holding with the same conditions for appointing the head of the company.
If the second attempt does not lead to an appointment, a third vote is held after five calendar days. At this vote, the chairman of the board is elected by a simple majority of the votes of the members of the supervisory board. The vote of the chairman of the supervisory board is decisive in the event of an equal distribution of votes.
If this third attempt also does not lead to a result, the supervisory board decides to announce a new competition for the chairman of the board. It must take place within 90 calendar days from the date of making such a decision.
As reported, on May 19, the Ministry of Energy amended the charters of GTSOU and Ukrenergo. That is, four out of five members of the supervisory board (three are independent) must vote for the head of GTSOU, and five out of seven (four are independent) must vote for the head of Ukrenergo.