The government has updated the charter and regulations on the supervisory board of Naftogaz in accordance with the law on corporate governance, the Ministry of Economy reported on Tuesday, UNN writes.
What has changed
Main changes:
- clarified competences and functions of the supervisory board;
- established the obligation of the supervisory board to report annually to the general meeting;
- improved the procedure for accessing information for members of the supervisory board and settled the issue of conflict of interest;
- described the organization of the supervisory board: frequency of meetings, procedure for convening, оформлення рішень тощо.
As Naftogaz stated, the changes are designed to improve the efficiency of management, transparency and accountability of the company in accordance with best international practices.
"Bringing Naftogaz's internal documents into compliance with the law is one of the important practical steps in corporate governance reform," the Ministry of Economy stressed.