Naftogaz supervisory board reshuffles executive board

The supervisory board of NJSC Naftogaz Ukrainy has included Naftogaz Chief Legal Officer Yaroslav Teklyuk, Naftogaz Group Chief Financial Officer Peter van Driel and Naftogaz Group Chief Transformation Officer Otto Waterlander into the Executive Board, Interfax-Ukraine reports citing the press service of the company.

At the same time, the Supervisory Board terminated the powers of Yuriy Kolbushkin and Mykola Havrylenko, CEO of JSC Ukrtransnafta as Executive Board members.

Effective immediately the Executive Board of Naftogaz now consists of the following five members: Chairman Andriy Kobolev; First Deputy Chairman Serhiy Pereloma; as well as Executive Board members Yaroslav Teklyuk, Peter van Driel and Otto Waterlander.

"With this change, the Supervisory Board supports the ambition of CEO Andriy Kobolyev to transform Naftogaz, increase its effectiveness and efficiency and strengthen the group’s ability to deliver on the shareholder objectives," Naftogaz said in the press release.

As the sole shareholder of Naftogaz, the government of Ukraine seeks to increase security of supply of natural gas, seek energy independence and create a transparent and competitive gas market, the company said.