Policy

Government opens competition for independent members of Energoatom’s supervisory board

The Committee for the Appointment of Heads of Critical Economic Enterprises has announced a competitive selection process and approved the requirements for independent candidates for the positions of members of the Supervisory Board of NNEGC Energoatom. This was reported by the with reference to the press service of the Ministry of Economy.

It is expected that the Supervisory Board will consist of 5 members in total, 3 of whom are independent members and 2 are state representatives.

A member of the Supervisory Board, within the competence defined by the charter of NNEGC Energoatom and the legislation of Ukraine, manages the company, as well as controls and regulates the activities of its executive body.

The independent members of the Supervisory Board of Energoatom will receive monetary compensation in accordance with international standards in accordance with Resolution of the Cabinet of Ministers of Ukraine No. 668 of 4 July 2017 “On Approval of the Procedure for Determining the Terms of Payment for Services and Compensation of Expenses for Members of Supervisory Boards of State Unitary Enterprises and Business Associations in the Authorised Capital of Which More than 50 Percent of Shares (Stakes) Are Owned by the State”.

In addition, D&O insurance will be provided, and expenses incurred on behalf of the company will be reimbursed in accordance with the resolution.

Candidates for the positions will be able to submit their documents from 2 February 2024 until 18:00 (Kyiv time) on 4 March 2024 in Ukrainian and English to the following email address: [email protected].

QUALIFICATION REQUIREMENTS FOR CANDIDATES FOR THE POSITION OF INDEPENDENT MEMBERS OF THE SUPERVISORY BOARD OF THE JOINT-STOCK COMPANY “NNEGC “ENERGOATOM”

Minimum requirements for candidates:

Each candidate for the position of an independent member of the Supervisory Board of NNEGC “Energoatom” Joint Stock Company must meet at least the following requirements:

• Full civil capacity;
• Availability and willingness to provide proof of higher education in the field of management and administration, electrical engineering, social and behavioural sciences with a degree in economics, professional knowledge and skills, in particular in the field of nuclear energy or electricity market, or in other energy sectors;
• Knowledge of trends and prospects of development in the field of nuclear energy or electricity market, or in other energy sectors, the best international approaches to the implementation of OECD corporate governance principles;
• Availability and willingness to provide proof of experience in senior positions in a public and/or private sector entity in the field of nuclear energy and/or electricity market, or in the civil service or equivalent service for at least 5 years, experience as a member of the supervisory board for at least 3 years during this period will be an advantage;
• Each member of the Supervisory Board of NNEGC Energoatom should be ready to allocate sufficient time to perform his/her duties, but not less than 50 working days per year, and be ready to come to Ukraine to participate in the meetings of the Supervisory Board;
• Ability to attend in person or remotely via audio and video communication at the meetings of the Supervisory Board of NNEGC Energoatom, which will be held in the form of joint presence at a designated location;
• Knowledge of Ukrainian and English – for Ukrainian citizens, English – for foreigners;
• Integrity, impartiality and impeccable business reputation.

Required competences:

Each independent member of the Supervisory Board of NNEGC “Energoatom” JSC must meet the requirements of at least two of the following areas. At the same time, all independent members of the Supervisory Board in the aggregate must meet the requirements listed below.

1. Business strategy, operational management and change management in the energy sector:

• At least 5 years of experience in executive positions (C-level) in international and/or Ukrainian companies operating in the nuclear (atomic) energy industry, energy sector, nuclear and radiation safety in OECD countries and/or Ukraine with more than 5000 employees;
• Successful experience in managing complex strategic processes and developing business models in the field of electricity generation, electricity market, safe and reliable operation of nuclear facilities, transport of radioactive materials, processing and storage of radioactive waste;
• Expertise in the development and implementation of the company’s long-term strategy for the electricity sector, including the nuclear industry and nuclear liability management;
• Experience in managing transformation processes and complex projects involving organisational change, and knowledge of general nuclear and power industry challenges related to senior management, as well as nuclear-specific challenges such as long-term management of nuclear power plants (such as lifetime extension, end-of-life decommissioning and management of radioactive waste and spent nuclear fuel);
• Demonstrated understanding of nuclear/green energy policy and EU taxonomy aspects of the European Union market;
• Experience in managing consultancy or research activities in the field of nuclear energy or energy market development in energy research centres or academic institutions with a recognised reputation;
• Competence in new technologies and technological expertise in the field of nuclear power generation and/or nuclear energy obligations (such as spent fuel and radioactive waste management or nuclear facility decommissioning).

2. Financial planning and investment:

• In-depth knowledge of financial accounting and financial auditing;
• Analytical skills and extensive knowledge of nuclear energy investments and transactions;
• Financial and audit experience in the energy sector, including experience in investment projects and debt restructuring at the C-level or as a member/chair of a supervisory board committee;
• Successful experience in financial planning in the energy sector, in the field of nuclear (nuclear) energy.

3. Legal support, risk and compliance:

• Experience in managing the legal aspects of transformation processes and complex organisational and cultural change projects; knowledge of general industry challenges related to the activities of companies operating in the nuclear (atomic) energy sector;
• Experience in dealing with regulatory frameworks and supervisory authorities in the energy and/or nuclear sectors, including at the international level;
• Extensive knowledge of risk and compliance management and experience in a senior compliance/risk management role, including nuclear safety, in a recognised power or energy company or academic institution. Knowledge of the legal frameworks relating to nuclear liability, both domestically and internationally, is an asset.

4. EU Regulation:

• Experience in regulated industries and an understanding of how European institutions work, particularly in the energy or nuclear sector. Additionally, experience in managing relationships with stakeholders, investors and energy fuel suppliers. Experience in managing commercial, legal or regulatory activities in the EU electricity market, including the nuclear (nuclear) energy sector.

5. Corporate governance:

• Experience as a member of a supervisory board in the energy sector, including nuclear (nuclear) energy;
• Practical understanding of the principles and foundations of corporate governance, sustainable development, environmental, social and governance (ESG) sustainability in the energy, nuclear (nuclear) energy sector; experience in developing and implementing corporate governance systems;
• Supervision as a member of the board over the development/organisation/conduct of competitive selection of the company’s management, as well as conducting evaluations of the company’s management in the energy sector.

CROSS-FUNCTIONAL COMPETENCES: Motivation and leadership

These competences are mandatory for all members of the Supervisory Board.

• Demonstrated leadership skills and motivation to contribute to the strategic development of Ukraine’s energy sector, perseverance and drive;
• Ability to act critically and independently;
• A commitment to continuous development and improvement of personal knowledge and skills;
• Adherence to high business standards and principles;
• Focus on results;
• Diplomacy and responsibility;
• Excellent interpersonal and communication skills, conflict management (especially in an international context), negotiation and facilitation skills;
• Demonstrated resilience and ability to adapt to the constant and multiple external pressures and changes inherent in the energy sector

No person may be nominated for the position of an independent member of the Supervisory Board of the Energoatom Company who

1. was or is a founder, shareholder (participant), manager, member of the Supervisory Board, employee or representative of a person to whom the Government of Ukraine applied personal, special economic or other restrictive measures (sanctions);
2. has an unspent criminal record;
3. has been found guilty by a court of law of violating the requirements of Article 89 of the Law of Ukraine “On Joint Stock Companies”.
4. has been found guilty by a court of law of violating Ukrainian corporate law.
5. is a citizen (subject) or resident of a state recognised by the Verkhovna Rada of Ukraine as an aggressor state, or a person (and related persons) subject to special economic and other restrictive measures (sanctions), in particular, but not exclusively, in accordance with the Law of Ukraine “On Sanctions”.
6. holds elected office and/or is an official of state and/or local government authorities;
7. is a civil servant or representative of the state;
8. is or within the last five years was an official of the state enterprise NNEGC Energoatom, or a business entity that is its successor, or its subsidiary, branch, representative office and/or other separate subdivision;
9. is or has been an employee of the state enterprise NNEGC Energoatom, or a business entity that is its successor, or its subsidiary, branch, representative office and/or other separate subdivision within the last three years;
10. is an affiliated person (within the meaning of this term in the Law of Ukraine “On Joint Stock Companies”) of the state enterprise NNEGC “Energoatom”, or a business entity that is its successor, or its subsidiary, branch, representative office and/or other separate subdivisions and/or their officials;
11. receives or has received any income from the state enterprise NNEGC Energoatom, or a business entity that is its successor, or its subsidiary, branch, representative office and/or other separate subdivision, except for income in the form of remuneration for performing the functions of a member of the Supervisory Board;
12. is an auditor of the state enterprise NNEGC “Energoatom” or a business entity that is its successor, or was an auditor for a certain period during the last three years preceding his/her appointment (election) to the Supervisory Board;
13. participates in the audit of the state enterprise NNEGC Energoatom or a business entity that is its successor, or its subsidiary, branch, representative office and/or other separate subdivision as an auditor working as part of an audit organisation, or participated in such an audit for a certain period during the last three years preceding his/her appointment (election) to the supervisory board;
14. has or has had during the last three years any economic or civil legal relations with the state enterprise NNEGC Energoatom or a business entity that is its successor, or its subsidiary, branch, representative office and/or other separate subdivision directly or as a shareholder (participant), manager, employee or member of the executive body of a business entity that has or has had such relations;
15. is a close person to the persons referred to in clauses 6-14 above (the term “close person” shall be used in the meaning defined in the Law of Ukraine “On Prevention of Corruption”).
16. is an individual entrepreneur who has had significant business relations with the state enterprise NNEGC Energoatom, or a business entity that is its successor, and/or affiliated legal entities within the last year.

To participate in the selection, the applicant personally sends an application for participation in the selection by e-mail (inUkrainian and English ).

The application must contain information about the applicant (full name, surname and patronymic (if any), the applicant’s registration address and correspondence address, contact phone number, e-mail address).

Together with the application:

• an applicant’s application form in accordance with the appendix (in Ukrainian only);
• a certificate from the competent authority of the applicant’s country of permanent residence on the presence or absence of a criminal record;
• a copy of the identity document, information on employment from the register of insured persons of the State Register of Compulsory State Social Insurance or copies of the employment record book (if any) or documents confirming work experience*, a copy of the higher education document;
• a biographical note (CV) (in Ukrainian and English) with a 3×4 photo;
• consent to the processing of personal data(in Ukrainian and English );
• references (if any);
• a statement on compliance with the criteria of independence of a member of the supervisory board of the enterprise, company(in Ukrainian and English );
• a motivation letter on performing the functions of a member of the supervisory board.

The candidate may submit other documents confirming his/her professional and/or moral qualities.

The relevant documents shall be submitted in Ukrainian and English and shall clearly reflect the information.

What is known about Energoatom?

“Energoatom is the operator of four nuclear power plants – Zaporizhzhya, Rivne, South Ukrainian and Khmelnytsky, which operate 15 nuclear power units with a total capacity of 13.8 GW, which provide about 55% of Ukraine’s electricity needs.

on 29 December 2023, the Cabinet of Ministers decided to establish Energoatom, a joint-stock company with 100 per cent state ownership. The government also approved the regulation on the Supervisory Board and the regulation on the principles of its formation.