The move follows the recent dismissal of CEO Andriy Kobolyev by government.
All members of the Supervisory Board at state-owned NJSC Naftogaz of Ukraine are submitting resignation letters.
The harsh move comes following the sacking of company CEO Andriy Kobolyev by government in what the company believes was a major breach of corporate governance rules.
Supervisory Board members on Friday met the Executive Board members and a newly appointed CEO, Yuriy Vitrenko, who previously was among the company's top managers before joining the government as acting energy minister.
"According to the procedures currently in effect, these resignations will be effective on 14 May 2021," the Supervisory Board's statement says. "The Supervisory Board had to hold the extraordinary meeting once its authorities have been renewed to ensure the continued well running of the Company."
Executive Board members raised their concerns about the ability to continue further serving the company, the statement adds.
The Supervisory Board has vowed to do "as much as it can to deliver an orderly transition."
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