BREAKING NEWS: Naftogaz supervisory board resigns amid strained relations with CEO

LONDON (ICIS)–The supervisory board of Ukraine’s Naftogaz announced its resignation on Wednesday amid strained relations with the new CEO, Yuriy Vitrenko.

Speaking during a media briefing, the chair of the supervisory board Clare Spottiswoode said communications with Vitrenko had become “a one-way street” and added that much-needed investments in production “were not permitted”.

“We take decisions, he ignores them,” she said during the press briefing. “Staff have been sacked or left of their own accord. Great talent is leaving from Naftogaz,” she said.

Vitrenko has been contacted for comment.

The supervisory board was dismissed in April together with CEO Andrii Koboliyev.

The board was subsequently reinstated and agreed to stay on until the end of the year.

The dismissal sparked a wave of international criticism from the EU and global financial institutions.

Earlier in June, the National Agency on Corruption Prevention (NACP) said the appointment of Yuriy Vitrenko at the end of April violated the provisions of article 26 of the law on the prevention of corruption.

Vitrenko dismissed claims he was illegally appointed as CEO of Naftogaz.