Massive Shake-Up: Zelenskyy Orders New Boards and Audits at Ukraine’s Biggest Energy Companies

Ukraine has launched a comprehensive overhaul of management and oversight at key state-owned energy companies, including nuclear operator Energoatom, hydropower producer Ukrhydroenergo, the Gas Transmission System Operator of Ukraine and Naftogaz, according to a statement posted by Ukrainian President Volodymyr Zelenskyy on his Telegram channel on November 15.

Zelenskyy said he had agreed with Prime Minister Yuliia Svyrydenko and Economy Minister Oleksii Sobolev on a sequence of steps to “reboot” the sector, combining full financial audits with changes in corporate governance.

Within a week, the government must create conditions for appointing a new professional supervisory board at Energoatom, which will, in turn, enable a complete reshuffling of the company’s management.

At Ukrhydroenergo, the president ordered an urgent competition to select a new chief executive and complete the formation of the supervisory board.

For the Gas Transmission System Operator of Ukraine, the authorities are to finalize the supervisory board and rapidly hold a competition for the post of chief executive officer.

Naftogaz, Ukraine’s state-owned oil and gas company, will see its supervisory board renewed on a longer timetable because the contracts of the current members expire in January 2026.

Zelenskyy stated that a competition for positions on the board must be announced and completed so that a new composition can begin work in January 2026. He added that representatives of the state on supervisory boards at other major state-owned energy companies should also be replaced as part of the broader governance reset.

The president instructed government officials to maintain constant and substantive contact with law enforcement and anti-corruption bodies as the audits and management changes proceed.

“Any scheme discovered in the companies must and will receive a prompt and fair response. Full transparency and integrity of processes in the energy sector are an absolute priority,” Zelenskyy concluded.

Earlier, it was reported that the prime minister announced a comprehensive decision to review all state-owned companies, including energy enterprises, by launching audits, rebooting Energoatom’s leadership, and instructing supervisory boards to closely examine operations, especially procurement.

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