Among the reasons behind his decision to leave the supervisory board, Amos Hochstein mentioned growing opposition to gas market reforms.
Naftogaz of Ukraine has received an official notice from supervisory board member Amos Hochstein confirming his resignation as an independent director on the company's supervisory board.
U.S. businessman and former diplomat Amos Hochstein has been on the supervisory board since 2017, the company press service reports.
Reasons behind step-down
Among the reasons behind his decision to leave the supervisory board, Amos Hochstein mentioned growing opposition to gas market reforms and the transformation of Naftogaz into an independent and efficient company. He urged the Ukrainian government to further ensure the independence of supervisory boards at state-owned enterprises in Ukraine as a safeguard against corruption.
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Naftogaz supervisory board chairperson Clare Spottiswoode thanked Hochstein for his contribution and expressed her confidence in the future effective work of the supervisory board.
She also emphasized that "in the current state of corporate governance, Naftogaz Group is resilient to outside influence, and the supervisory board will continue to protect the company from political influence and any attempts to roll back anti-corruption steps in the state-owned energy sector."
Background
In November 2017, the Cabinet approved the new composition of Naftogaz supervisory board.
The new members were Clare Spottiswoode (UK), Bruno Lescoeur (France), Amos Hochstein (US), Steven Haysom (Canada), and three Ukrainians: Oleksandr Hrytsenko (Ukreximbank), Serhij Popyk (PM's aide at the time), and Volodymyr Demchyshyn.