On 23 March 2026, the Supervisory Board of JSC NNEGC Energoatom held its fifth meeting in Kyiv, continuing the implementation of its corporate governance reform agenda and addressing key operational and strategic priorities.
The Supervisory Board reaffirmed that nuclear and industrial safety remain the Company’s highest priority, forming the foundation for all operational and strategic decisions.
As part of institutionalising its work, the Supervisory Board is finalising the Company’s 2026 work plan and meeting schedule. Meetings will be held every six weeks, including at least two in-person sessions annually, ensuring the ongoing oversight, continuity, and accountability.
A key focus of the meeting was strengthening financial and operational transparency. The Supervisory Board has introduced a structured reporting framework with clearly defined deadlines, formats, and accountability mechanisms. This marks a concrete step toward improving the quality and completeness of management reporting and enabling informed decision-making. The enhanced framework will support the Supervisory Board’s assessment of dividend capacity, preparation for the 2026 Annual General Meeting, and approval of the Company’s financial and investment plans.
The Supervisory Board has also reviewed an updated draft of the Company’s Charter, incorporating proposals from the European Bank for Reconstruction and Development (EBRD) and aligned with the OECD Guidelines on Corporate Governance of State-Owned Enterprises. The Charter is a cornerstone of the Company’s governance reform and will be finalised following the adoption of the Government’s model charter for fuel and energy sector companies.
In parallel, the Supervisory Board confirmed progress on the comprehensive financial and operational assessment mandated at its inaugural meeting. With the scope now defined, the assessment is expected to be launched in the coming weeks and will provide an independent baseline for further transformation.
Advancing the Company’s organisational transformation, the Supervisory Board reviewed a revised organisational structure designed to strengthen accountability and clarify management responsibilities. Role descriptions for the Chief Executive Officer and Executive Board have been finalised, establishing a clear division of responsibilities in line with international best practices.
The selection of an independent executive search firm will begin shortly, marking the next step in forming a professional and competitive management team.
Background
Energoatom generates more than 55% of Ukraine’s electricity and plays a critical role in the country’s energy security. The Supervisory Board, established on 26 February 2026, is mandated to strengthen corporate governance, restore effective internal controls, and align the Company with the expectations of international partners and financial institutions. Progress in governance reform is a key enabler for enhancing operational efficiency, building investor confidence, and supporting Ukraine’s broader reform agenda and access to reconstruction financing.
