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Ukraine's state-owned military-industrial concern Ukroboronprom, combining defense companies and arms producers, intends to reshuffle 25% of its companies’ managers as part of an annual staff turnover, according to the concern's press service.
As reported, the change of CEOs is a common European practice based on KPI (Key Performance Indicators) relating to the strategic vision of company development, workers' social security, as well as investment in research and production.
According to the Ukroboronprom such decisions were taken with regard to the top management of Zhytomyr Armored Plant, Kharkiv-based Morozov Machine Building Design Bureau, Artillery Armament Design Bureau, Iskra Scientific and Production Complex, and others.
Read alsoUkroboronprom develops new type of missiles for military aircraft – Poroshenko"Annual monitoring of the top management effectiveness is a standard business practice. At the beginning of the year, the CEOs take on certain obligations for production, financial performance, and the introduction of social standards. If they fulfill them, they can rely on the continued career growth. If not, other, more motivated, leaders replace them," the press service commented on the decision.
UNIAN memo. The profit from the Ukroboronprom operating activities amounted to UAH 1.4 billion in 2016, while EBITDA stood at UAH 2.4 billion. According to the results of recent years, the state concern has fully performed the state defense order, ensuring supplies to the Ukrainian army and working on arms export contracts, whose volume in 2016 increased by 25% from 2015, up to $750 million.