The NBU has reviewed the documents of the newly elected members of Oschadbank’s Supervisory Board. The applicants were also tested and interviewed. Based on the assessment of compliance with the qualification criteria, the NBU’s Banking Supervision Committee decided to reject the following candidacies:
- Sevki Acuner (Chairman of the Supervisory Board, independent director)
- Oleksii Hrinchenko (Deputy Chairman of the Supervisory Board, independent director)
- Oleksii Rieznikov (Member of the Supervisory Board, independent director)
- Dmytro Vlasov (Member of the Supervisory Board, representative of the Verkhovna Rada of Ukraine)
- Daniel Bilak (Member of the Supervisory Board, representative of the Cabinet of Ministers of Ukraine)
This decision is based on the results of interviews conducted by the Qualification Committee jointly with the NBU Board. In line with its legal rights, the NBU will require the bank to change the abovementioned members of the Supervisory Board.
Even so, certain candidates have successfully passed the tests and interviews:
- Apine Baiba (Member of the Supervisory Board, independent director)
- Michael Weinstein (Member of the Supervisory Board, independent director)
- Peter Briggs (Member of the Supervisory Board, independent director)
- Yurii Khramov (Member of the Supervisory Board, representative of the President of Ukraine)
The NBU will make final decisions on the candidates who have successfully passed the interviews after they eliminate all inconsistencies in the documents they have submitted.
On the procedure of extension of the contract with the Chairman of Oschadbank’s Board
The NBU is deeply concerned about the procedure in accordance with which the newly selected Supervisory Board of Oschadbank extended the contract with the Chairman of Oschadbank’s Board. Pursuant to Article 7 of the Law of Ukraine On Banks and Banking Activity, which provides for the reform of corporate governance in state-owned banks, the procedure of appointing the Chairman of the Board must be conducted on a competitive basis. Nevertheless, the Supervisory Board of Oschadbank resolved to extend the contract with the current Chairman by another five years without holding a competition.
“The Law adopted by the Verkhovna Rada in 2018 to improve the level of corporate governance in state-owned banks was aimed at bringing the principles and mechanisms of their management in line with the best international standards. This important step will increase the competitiveness and efficiency of the banks themselves. Further to this, the corporate governance reform of banks is crucial for the country's investment climate, and governance at state-owned banks should be a model for the whole system. That is why we insist on adhering to the spirit and content of corporate governance reform at state-owned banks. The Regulator believes that no matter who holds the position of Chairman of the Board, which is undoubtedly the prerogative of the Supervisory Board, all procedures required by law must be followed. And this is a matter of honor for the newly elected Supervisory Board,” stressed NBU First Deputy Governor Kateryna Rozhkova.
Under the relevant procedure, the NBU will make its opinion known to the Cabinet of Ministers of Ukraine, which acts as the owner of Oschadbank.