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American businessman and diplomat Amos Hochstein notified NJSC Naftogaz Ukrainy of the termination of his powers as an independent director on the supervisory board. On September 27, the Swedish economist Anders Aslund left the Ukrzaliznytsia Supervisory Board. Both declared the authorities’ resistance to attempts to create a modern corporate governance structure for state-owned companies.
NJSC Naftogaz Ukrainy received an official notification from the American businessman and diplomat Amos Hochstein about the termination of his powers as an independent director on the company’s supervisory board. This was reported on October 12 by the NAC press service.
Among the reasons for the decision to leave the supervisory board, Hochstein mentioned the strengthening of opposition to the reform of the gas market and the transformation of Naftogaz into an efficient and independent company. He called on the Ukrainian government to continue the course to ensure the independence of the supervisory councils in Ukraine as a safeguard against the return of past corruption schemes, the press service said.
On October 12, Hochstein’s column was published in the Kyiv Post, where the former member of the Supervisory Board stated that Naftogaz management’s successful efforts to create a new corporate culture, transparent mechanisms, and adherence to international standards met with resistance at every stage. According to him, the NAC was forced to spend “endless time fighting against political pressure and the oligarchs’ efforts to enrich themselves through dubious deals.”
Hochstein became an independent member of the supervisory board of Naftogaz Ukrainy in November 2017. During Barack Obama’s presidency, he was one of then-Vice President Joe Biden’s consultants on Ukraine.
On September 27, 2020, Swedish-American economist, senior fellow at the Atlantic Council, Anders Aslund, resigned as an independent member of the Ukrzaliznytsia supervisory board. He named one of the reasons for leaving the fact that Ukrainian President Volodymyr Zelenskyy and his entourage do not believe in “good corporate governance”.
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