Corporate Governance in the Public Sector: Institutional Resilience in Times of War

Ukraine consistently declares a course for European integration and the implementation of OECD standards. The adoption of Law No. 3587-IX was an important step towards expanding the powers of Supervisory Boards and separating the functions of the state as an owner and as a regulator. However, the realities of wartime, unprecedented security challenges and the need for quick solutions create tension between democratic procedures and a rigid management vertical.

Energy Club initiates a professional discussion with the participation of leading scientists, lawyers, government representatives and independent directors.

Purpose of the meeting: To find an answer to the question – how to maintain a balance between the operational manageability of strategic assets and compliance with the principles of corporate governance? Where is the line beyond which simplification of procedures for the sake of speed turns into the destruction of institutions?

Questions for discussion:

• Law No. 3587-IX in practice: Has the corporate governance reform become irreversible? Analysis of the harmonization of Ukrainian legislation with the OECD Principles of Corporate Governance.
• Where is the “red line” between the formation of ownership policy (competence of the Ministry/CMU) and interference in the company’s operational activities?
• Are the current Charters of State-Owned Enterprises (SOEs) effective safeguards against voluntarist decisions that may harm the company?
• How to ensure real independence of directors in conditions of martial law? Does the Supervisory Board remain the center of decision-making?
• How does the frequent rotation of management bodies (Supervisory Boards and Management Boards) affect the country’s energy security and the implementation of long-term strategies?
• How does the transition from the model of “political appointees” to the model of “professional managers” affect the financial results of state-owned companies?
• Are ethics and trust an economic asset of the company? The role of the academic community in shaping a new generation of managers.
• How to attract the best top managers to the public sector if the level of legal responsibility and risks is disproportionate to the level of security?
• What competencies should a modern head of a strategic state-owned enterprise possess and is the education system ready to meet this demand?

Moderator

Andriy Kulykov

journalist, TV and radio host, media expert

Speakers

Oleksandr Lysenko

Independent corporate governance consultant

Roman Bondar

Senior partner at Korn Ferry

Maksym Libanov

Member of the NSSMC Commission, Committees on Strategy Development and Economic Analysis of the Stock Market, Functioning of Issuers and Corporate Governance

Oleksandr Okuniev

Chairman of the Board of Directors of the CGPA, Founder of the Ukrainian Corporate Governance Institute, and Member of the Board of the National Registry of Corporate Directors

Volodymyr Igonin

Partner, Head of the Corporate Law / Mergers and Acquisitions Practice, Vasil Kisil & Partners, Member of the Board of Directors of the CGPA