Privatizing stake in Energoatom would improve its corporate governance – Minister of Economy
Privatization of a stake of Energoatom could significantly improve corporate governance in this company, Minister of Economy, Environment and Agriculture Oleksiy Sobolev believes.
"The most effective reform is the privatization of everything possible. Regarding Energoatom, privatizing a stake of the enterprise will significantly improve corporate governance. The period during which the supervisory board cannot make decisions will be reduced as much as possible because a shareholder will be responsible for large sums of money," said Sobolev at a meeting of the special commission on economic security, chaired by MP Yaroslav Zhelezniak (the Holos faction), in Kyiv on Monday.
He expressed this opinion during a discussion of the problems of forming and operating the Energoatom supervisory board, which the government dissolved after NABU/SAPO published the Midas case with materials on the laundering of the company's funds by a criminal organization.
In general, Sobolev emphasized that the corporatization of Energoatom was accompanied by pressure from Midas figures.
"We implemented the corporatization of Energoatom in record time before launching the supervisory board competition. As you now understand, it was a difficult task because there was constant resistance. The same people who are now involved in this case were the Ministry of Economy's counterparts, but we did it to improve this company's corporate governance," the minister explained.
Describing the situation with the supervisory board, he noted: "The supervisory board could have removed the management at any time. They expected the company to buy them liability insurance. Apparently, the company sabotaged this process, which is why the supervisory board was slow."
According to reports, Energoatom did not announce a tender for liability insurance for the chairman and members of the supervisory board until the end of July 2025, and the tender was for UAH 19.3 million.
