• 13/04/2024 15:26

The President approved corporate governance reform for state-owned companies

President Vladimir Zelensky signed a law (No. 5593-d) on improving the corporate governance of legal entities whose shareholder (founder, participant) is the state. The document was returned with the president’s signature on March 5, according to the information in the bill card.

The President approved the corporate governance reform for state-owned companies

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What is known about the reform

This document is one of the important conditions for fulfilling Ukraine’s European integration obligations.

The law regulates a number of issues related to the activities of state-owned enterprises . In particular, this concerns the introduction of a state ownership policy, which will be approved by the government.

At the same time, the remuneration policy for managers and members of supervisory boards of state-owned enterprises and the state dividend policy will be parts of the state ownership policy.

The supervisory boards of all SOEs will approve strategic development plans, as well as investment and financial plans.

It is planned to change the procedure for remuneration of SOE managers and members of the supervisory boards. The remuneration policy will contain principles and methodological approaches on the basis of which supervisory boards will set the amount of remuneration for SOE managers.

The law also normalizes the procedure for dismissal of members of supervisory boards – an exhaustive list of grounds for dismissal is introduced.

The document defines approaches to the state’s dividend policy, which will also be approved by the government.

minfin.com.ua

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