Naftogaz Supervisory Board's independent members officially resigned

Two independent members of the Supervisory Board of the National Joint-Stock Company Naftogaz of Ukraine, Paul Warwick and Marcus Richards, have officially resigned, according to the company's message published in the system of information disclosure of the National Commission for Securities and Stock Market.

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It is also noted that Naftogaz took this decision based on the letters of resignation received from the Board's ex-members. Warwick and Richards have held their posts since March 25, 2016.

Read alsoEBRD's Francis Malige: For Ukraine's judiciary it's "catch and release"… That needs to stop.As UNIAN reported earlier, the Nomination Committee of the Economic Development Ministry in 2016 defined three candidates for the positions of independent members of the Naftogaz Supervisory Board, namely Marcus Richards, Paul Warwick, Charles Proctor. The Ukrainian government added Yuliya Kovaliv and ex-energy minister Volodymyr Demchyshyn as their representatives to the board.

Read alsoPM Groysman guarantees reform boost in NaftogazIn mid-April 2017, Kovaliv, who chaired the supervisory board, resigned. Early in September, Proctor announced his plans to resign as well.

In September 2017, the remaining independent members of the Naftogaz Supervisory Board Paul Warwick and Markus Richards also said they intended to quit. They claim the decision is a result of the government curtailing the reforms.

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