For the first time, the Supervisory Board (SB) will appear at UDP. We have received an order from the Ministry regarding its formation.
-
Read 2 min
-
Published
-
Comments 0
The corporate governance system is being introduced not only at JSC “UDP”. This process is taking place at the majority of state enterprises.
The goal of corporatization is to increase efficiency and independence in management, and to strengthen the ability to attract investments.
For international investors, it is important to understand that the situation at a Ukrainian enterprise is controlled not by a ministerial official but by a team of independent experts with impeccable reputations and sufficient experience.
By law, Supervisory Boards at state enterprises do not interfere in operational activities. They approve the financial and investment plan, monitor the implementation of the development strategy, ensure the disclosure of reliable information about the activities of the joint-stock company, and review the report of the general director.
Two members of the UDP Supervisory Board, as representatives of the state, will be appointed by the ministry. Three more will be selected through an open competition with the involvement of a professional consultant.
The members of the Supervisory Board should have diverse competencies (expertise in the transport sector, legal field, etc.). It’s crucial that they not only carry out independent control and monitoring but also, based on their own experience and contacts, contribute to the company’s development and investment attraction.
I hope the Supervisory Board will become part of our team of like-minded individuals and help transform UDP into a strong and modern company with a great future. After all, the performance indicators of the enterprise are simultaneously indicators of the Supervisory Board’s quality of work.
