Ukrenergo implements corporate governance reform
Baker McKenzie has successfully supported Ukrenergo, one of the biggest state-owned Ukrainian power companies, in implementing corporate governance reform to institutionalize the supervisory board and ensure that the company's management upgraded structure is in line with OECD guidelines.
The team prepared restated charter documents and represented the company in negotiations with the Ministry of Energy and the Coal Industry of Ukraine up until adoption of the company's updated charter on 12 September 2017.
The Baker McKenzie team was led by Serhiy Piontkovsky, managing partner, and included Andrii Moskalyk, senior associate, and Oleksandr Kez, associate.
Commenting on the news, Serhiy Piontkovsky noted: "This is an unprecedented case of developing a corporate governance structure and pioneering an independent board established at the state unitary enterprise. Baker McKenzie will continue to provide legal assistance to the company on its way towards corporatization and subsequent certification as a transmission system operator".