Ukroboronprom will no longer exist in 2021 / REUTERS
Newly appointed CEO of Ukraine's state-run Ukroboronprom Concern Yuriy Husyev has said the business entity will no longer exist in 2021.
"The president set the task to transform Ukroboronprom next year by creating new holdings, which, first of all, will provide our army with high-quality weapons and military equipment... Ukroboronprom will no longer exist next year," he said at a press conference on Thursday.
"New holding companies will be created that will operate on the principles of corporate governance, transparency, OECD [Organization for Economic Cooperation and Development]," Husyev said.
- In August, Deputy Prime Minister, Minister for Strategic Industries of Ukraine Oleh Urusky announced Ukroboronprom's transformation and the change of its management.
- On October 10, 2020, Zelensky dismissed Aivaras Abromaviсius from the post of Ukroboronprom CEO.
- Ihor Fomenko was appointed the defense giant's acting chief.
- On December 3, Zelensky appointed former Kherson Governor Yuriy Husyev as Ukroboronprom CEO.
- Ukraine's state-run Ukroboronprom Concern was founded in 2010 to ensure the effective operation and management of state-run economic entities involved in the development, manufacture, sale, repair, upgrade, and disposal of weapons, military and special equipment, and ammunition. Ukroboronprom incorporates about 140 enterprises of Ukraine's military industrial complex.