The 24th professional development program “Corporate Director”, organized by the Ukrainian Corporate Governance Institute in cooperation with the Corporate Governance Professional Association (CGPA), has been completed. The program was partnered with Winner Leasing. This time, the program brought together about 70 representatives of boards, management boards, and senior management from state-owned, private, and financial companies, further proving that professional boards of directors are the foundation of quality management in Ukraine. During six intensive days, participants worked with leading experts, discussed real-life cases, analyzed challenges, and acquired tools to help boards act effectively, responsibly, and strategically.
The program participants included executives and specialists representing almost all key sectors of the Ukrainian economy, including aircraft manufacturing, energy and defense, banking and financial institutions, communications, education, consulting, and private business. The group included chairpersons and members of supervisory boards of large joint-stock companies, CEOs of private companies and international brands, heads of government departments, business owners, deputy CEOs and managers of high-risk infrastructure companies, directors of manufacturing companies and service holdings, professional lawyers, and managers from the banking sector. Among the participants were representatives of JSC “ANTONOV”, NEC “Ukrenergo”, JSC “Ukrzaliznytsia”, JSC “Hartron”, JSC “Sumykhimprom”, PJSC ‘Ukrhydroenergo’, JSC “Bank Avangard”, JSC “Raiffeisen Bank , JSC CB PrivatBank, the Energy Company of Ukraine, the State Property Fund, the Ministry of Energy, the Ministry of Economy, the Secretariat of the Cabinet of Ministers, as well as dozens of private companies – from manufacturing enterprises and technology startups to media, service businesses, and consulting agencies. Such a broad professional composition created a unique environment for the exchange of experience. It formed a powerful community of leaders from diverse industries, united by a common goal: to develop modern corporate governance standards in Ukraine.
The program participants included members of supervisory boards of state-owned companies, as well as representatives of state authorities that manage these companies. The Ministry of Economy of Ukraine, in cooperation with CGPA and the European Bank for Reconstruction and Development (EBRD), is implementing a project to enhance the capacity of supervisory boards of state-owned companies and bodies that perform the functions of state property owners. The initiative is part of the implementation of corporate governance reform in Ukraine. This is another step towards improving corporate governance in Ukraine. This program is not just about knowledge. It is about responsibility, transparency, and trust in the management of state assets. The project is being implemented with the support of the Multi-Donor Account for Stabilization and Sustainable Development of Ukraine (MDA), which is managed by the EBRD. The MDA donor countries are Austria, Denmark, Finland, France, Germany, Italy, Japan, the Netherlands, Norway, Poland, Sweden, Switzerland, the United Kingdom, the United States, and the European Union, the largest donor.
The participants also included scholarship recipients who studied with the support of the EBRD under the Women in Business Program, funded by the European Union. This support promotes women’s involvement in management structures and creates equal opportunities for career development in corporate governance. The EBRD recognizes the importance of improving corporate governance to strengthen Ukrainian business and supports women leaders of Ukrainian SMEs with scholarships to enhance their professional qualifications and develop key skills for the growth and sustainability of their companies.
The training was opened by Olena Voloshyna, Head of the International Finance Corporation (IFC) Representative Office in Ukraine, who emphasized the role of professional boards of directors in business development and attracting investment. She outlined the importance of cooperation between the IFC and CGPA as partners in building sustainable corporate practices. She emphasized that high-quality boards ensure investor confidence and transparency in business processes.
The first training sessions were led by Oleksandr Okuniev, Chairman of the CGPA Board of Directors, who explained the basics of corporate governance in detail: definitions, key elements of the management model, principles of system development, and the role of best practices. He explained how the Board ensures control, strategy, and balance of interests, and why independent directors play a critical role in the corporate structure. O. Okuniev also focused on the competencies of the Board, different types of directors, the importance of diversity, and, using a specific example—the Facebook case—showed how the type of Board affects the quality of decisions. A separate section was devoted to the organization of work: from induction sessions and meeting planning to the role of the Board Chair and Corporate Secretary in ensuring effectiveness.
The second day was opened by Taras Kyrychenko, a member of the Board of a non-state pension fund, the Chairman of the Supervisory Board of Nova Poshta, and the former Chairman of the Management Board of Pravex Bank JSC, with an in-depth practical session on strategic management. He explained what corporate strategy is, what role the Board plays in its formation and control, and presented a real case study, “Strategy of Hope,” which shows the sequence of strategic decision-making. After that, Oleksandr Okuniev continued the topic of Board member remuneration, presenting remuneration models, the ratio of fixed and variable components, global trends, typical mistakes, and the work of the remuneration committee.
Dmytro Sergiyenko, Director of the Internal Audit Department at Ukrnafta JSC and member of the Audit, Risk and Ethics Committee of the Ukrainian Red Cross Society, spoke about the internal control system. He explained the role of internal audit in corporate governance, professional standards, the Board’s expectations, and the transformational challenges facing companies today. The day ended with a panel discussion on business financing opportunities: Serhiy Butenko, Head of Sales at Winner Leasing, revealed the tools of leasing programs; Oksana Strashna, Director of the SME Direct Investment Program at UMAEF, explained the tools available to companies for raising capital; and Alina Kovalchuk, EBRD Analyst, shared the opportunities offered by EBRD programs to support small and medium-sized enterprises.
The third day of the first module was devoted to values, corporate culture, and inclusion. The session was opened by Peter Zashev, an adjunct professor at the Stockholm School of Economics in Riga, the director of corporate training programs at Hanken School of Economics, and a member of the Board of Directors of Alu-Releco International (Finland). He spoke about the practical significance of corporate culture for business success, the role of the Board as a bearer of values, and the global challenges of competing for talent. His presentation gave participants an insight into how the Board can shape a culture of trust, leadership mindset, and sustainability within a company.
The topic of ESG and sustainable finance was presented by Alina Sokolenko, founder of the Association of Sustainable Development Experts (ASDE). She outlined global trends, the role of international standards, issues of environmental and social risk management, and the importance of transparency and non-financial reporting. Nina Dombrovska, co-founder of Women on Boards Ukraine, spoke about inclusive leadership, sharing research on the impact of diversity on the quality of management decisions, highlighting gender aspects of leadership, and explaining how boards can work more inclusively. The day ended with Sergiy Pogrebnoy, partner at Sayenko Kharenko, co-owner of SK Security, Chairman of the Board of the Ukrainian Association of Corporate Security Officers, and vice president of ASIS Ukraine, who outlined the key threats to corporate security, modern tools for protecting companies, and real-life cases of risk response.
The second module began with the topic of succession. Oleksandr Okuniev explained the Board’s role in succession planning, using Microsoft as an example to illustrate the process of selecting a CEO and to present recommendations for developing succession plans for different scenarios. Next, participants worked on the topic of executive recruitment under the guidance of Oleksiy Dolgikh, Managing Partner at Boyden Global Executive Search and member of the CGPA Board of Directors, who explained how to search for a CEO, what criteria to use correctly, what “pitfalls” exist in this process, and presented the results of the latest CEO Salary Survey. A practical game on decision-making regarding CEO contracts was conducted by Oleksandr Onufrienko, a lawyer and PhD in law, who simulated real-life situations of executive responsibility to the company.
The final topic of the first day of the module was presented by Nadiya Vasilyeva, a member of the Board of JSC “Credit Agricole Bank” and the Board of JSC “Prozorro.Prozori” (2019–2025). She highlighted the role of innovation and investment strategies in business development, presented models of innovative solutions, and explained how the Board can use artificial intelligence for forecasting, data analysis, and strategic decision-making.
The second day of the module was divided into three professional tracks. The following speakers participated in the public sector track: Serhii Derkach, Deputy Minister of Development of Communities and Territories of Ukraine and member of the Board of Directors of Ukrposhta JSC, who spoke about anti-corruption compliance in state-owned companies and shared case studies from his own experience; Volodymyr Igin, partner at Vasyl Kisil & Partners Law Firm, member of the CGPA Board of Directors, who explained the legal aspects of the State Property Policy; Oleksiy Yegorchenkov, senior manager at EY, who presented letters of expectations and approaches to remuneration policy formation; Serhii Konovets, independent member of the supervisory boards of JSC Ukrainian Defense Industry and LLC GTS Operator of Ukraine, who spoke about the work of audit committees; and Oleksandr Lysenko, corporate governance consultant, member of the PACU Board of Directors, who revealed methods for evaluating the activities of supervisory boards.
The financial track featured: Vitaliy Lishchuk, CFO of National Information Systems and head of the NBU division in 2015–2019, who explained how the NBU assesses corporate governance in banks and how ethical tone is set from the top; Yuriy Blashchuk, independent member of the Supervisory Board of JSC Ukrgasbank, who shared the practices of the Board’s committees; and Olyana Gordiyenko, Director of Corporate Governance at ICU Group, former Chair of the Supervisory Board of JSC Ukreximbank, who spoke about the interaction between the executive body, the shareholder, and the Board.
In the private business track, Volodymyr Igonin explained how a corporate agreement helps regulate relations between shareholders and what role the Board plays in this. Iryna Starodubova, an independent member of the Board of Directors of Comfy, spoke about business financing strategy, capital structure, debt financing, and attracting direct investment funds. Serhii Bulavin, a member of the supervisory and advisory boards and the CGPA Board of Directors, together with Dmytro Kozlov, a corporate governance expert, showed how boards work in SMEs, how a board is created from scratch, what challenges small companies face, and how artificial intelligence can strengthen their management. The group actively worked through several case studies.
The final day of the program was opened by Oleg Drin, independent director and Chairman of the supervisory boards of Aurora and Comfy, independent director of the Suziya/Master Zoo group of companies, and co-owner of the Central Plains Group agricultural company, who shared his practices of leadership as a board chairman, building an effective agenda, and board behavior in crises. The final training session was conducted by Oleksandr Okuniev, who presented methods for evaluating and self-assessing the work of the Board and its committees, and outlined how to embed regular evaluations into the company’s corporate policies. The program concluded with a ceremonial presentation of certificates and an invitation to participants to join the CGPA professional community.
The program’s value is confirmed by its participants’ impressions. Vasyl Shkurkov, member of the Supervisory Board of PJSC Ukrhydroenergo, noted that “the program is an important platform for gaining new knowledge in the field of corporate governance, based not only on current practices in Ukraine, but also on international experience. The course reveals the latest developments in corporate governance reform and practical experience in their implementation. We are very grateful to the Chairman of the Board of Directors of CGPA, Mr. Oleksandr Okuniev, and the CGPA team for the substantive content of the program and the high level of organization of the learning process.“
Yulia Bagira, Director of First Window Factory LLC, noted that “The Corporate Director course from PACU proved to be very useful and practical. It provided a systematic understanding of the Board of Directors’ work, tools for strategic decision-making, and a clear vision of a director’s role in managing a company. The real-life cases and practical experience were especially valuable. The course helped me structure my knowledge and act with more confidence in management situations. I recommend it to anyone who wants to strengthen their expertise in corporate governance.“
Svitlana Korchynska, Chair of the Board of JSC Bank Avangard, noted that “The CGPA’s Corporate Director training program allows you to update your knowledge in the field of corporate governance quickly, communicate with experts and colleagues, and broaden your worldview through new practical case studies. The high concentration of intelligent people involved in the program not only provides new, useful ideas to ponder for a long time, but also offers hope for a happy and successful future for Ukraine! Thank you to the entire CGPA team, speakers, and participants!“
The 24th Corporate Director program has once again confirmed its status as a leading platform for training professional board members who are ready to implement modern management standards, strengthen the strategic development of companies, and contribute to the formation of a transparent and responsible business environment in Ukraine.
Registration for the next program in May 2026 is now open. Join us! Details about the program and registration are available here.
