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Chairman of the Board of nationalized PrivatBank Oleksandr Shlapak has left his post after the bank's supervisory board accepted his resignation, according to the banking news portal FinClub.
PrivatBank's supervisory board on July 20 decided to appoint Halyna Pakhachuk acting chairperson of the bank's board, FinClub reported.
Shlapak announced plans to resign on June 26. On July 4, Shlapak announced a supervisory board meeting on his matter on July 20.
On July 12, PrivatBank's supervisory board announced it had hired Amrop Executive Search Ukraine to headhunt for candidates for the post of PrivatBank's board chairman (CEO) and first deputy chairman (CFO).
Read alsoPrivatBank becomes Ukraine's second bank trusted with storage of NBU's cash The supervisory board states that Shlapak "has fully accomplished the tasks set for stabilizing the situation at the bank and auditing its financial condition, completing his anti-crisis mission as PrivatBank board chairman."
Shlapak worked as finance minister under the government of Arseniy Yatsenyuk. He became head of the PrivatBank's board in December 2016 immediately after the bank had been nationalized.
As UNIAN reported earlier, on December 18, 2016, the Cabinet decided to nationalize Ukraine's No. 1 bank, Dnipro-based PrivatBank, being guided by the recommendations of the National Security and Defense Council.
To this end, it issued government bonds worth UAH 117 billion, or $4.5 billion, while the NBU purchased the bonds totaling UAH 25.8 billion, or $995 million, at the end of December 2016, and more bonds worth UAH 1.4 billion, or $54 million, in January this year. The Cabinet of Ministers in June decided to capitalize PrivatBank for another UAH 38.5 billion, or $1.5 billion.