The 22nd Corporate Director Professional Development Program was completed on November 15, 2024. The event brought together representatives of Ukrainian businesses—members of boards of directors, members of management boards, CEOs, and company owners—to deepen their knowledge and improve their skills in corporate governance.
The Program included three modules, during which participants immersed themselves in key aspects of governance through lectures, practical cases and business games conducted by leading experts from Ukraine and Europe.
Kateryna Rigg, Principal Manager, SME Advisory at the EBRD, Ukraine, delivered the greetings. In her speech, she emphasized the importance of developing effective corporate governance to strengthen the competitiveness of Ukrainian companies and the role played by professional directors in transforming the business environment. Kateryna also emphasized the importance of grant support for small and medium-sized businesses seeking to improve governance processes and expand their markets.
The Program of the first module included key topics related to the role and tasks of the Board of Directors, organization of effective work of supervisory boards, methods of evaluation of the Board’s activities, and peculiarities of remuneration for its members. Particular attention was paid to the principles of balance and diversity of the Board, approaches to succession planning, and the role of the corporate secretary. Oleksandr Okuniev, Chairman of the CGPA Board of Directors, shared his experience in building an effective corporate governance model. Participants gained valuable knowledge about the role of the Board of a joint-stock company, the competencies of board members, and the basics of organizing the work of supervisory boards. The session on the evaluation of the Board’s performance and the role of the audit committee was conducted by Volodymyr Mukomela, Partner at Baker Tilly in Ukraine. Volodymyr shared practical cases, emphasizing what information the Board can get from financial statements and how to identify risks. Alina Movchan, Project Coordinator, SME Finance and Development Group, EBRD in Ukraine, spoke about the possibilities of grant support and financing of consulting projects for SMEs, including implementing corporate governance.
The second and third modules of the Program continued to explore the elements and issues of corporate governance. Corporate culture proved to be an important and interesting topic, which was covered in detail by Peter Zashev, a Professor at the Stockholm School of Economics in Riga. He emphasized the role of boards of directors in shaping the company’s culture and shared the experience of Scandinavian countries in developing talent.
Corporate governance is facing new challenges in the digital age. Erik Vermeulen, a Professor at Tilburg University and Senior Legal Advisor at Signify, spoke about integrating artificial intelligence, ESG aspects, and digital technologies into the work of boards of directors and leadership in the face of transformation.
Oleksiy Dolgikh, Managing Partner of Boyden Ukraine, and Oleksandr Onufrienko, attorney at law and corporate law expert, spoke about the peculiarities of the CEO search and cooperation with newly appointed CEOs. They helped the participants better understand the strategic role of boards of directors in these processes. The practical approach to the work of the boards was demonstrated by game cases. Igor Gut, Managing Partner of DYB, conducted a business game dedicated to strategic decision-making, and attorney Oleksandr Onufrienko immersed the participants in the process of developing contracts for the CEO.
Volodymyr Igonin, Partner at Vasil Kisil & Partners, shared expert recommendations on how to regulate relations between shareholders through corporate agreements, emphasizing the key role of boards of directors in this process.
Sergiy Bulavin, a member of the supervisory and advisory boards of Ukrainian companies, and Dmytro Kozlov, Chairman of the Advisory Board of TERRAMET, presented their practical experience of managing companies at the stage of introducing boards. They discussed the key challenges faced by small and medium-sized businesses and offered solutions for the effective operation of the boards. A special place was given to the topic of inclusive leadership, which was raised by Nina Dombrovska, co-founder of Women on Boards Ukraine. She emphasized the importance of diversity in management and the role of women in strategic decision-making.
The Program’s final day included speeches by Taras Kyrychenko, Chairman of the Supervisory Board of NOVA Group of Companies (Nova Poshta), General Partner of TOLOKA.VC Investment Syndicate highlighted the role of boards in corporate strategy development, and Iryna Starodubova, a member of several supervisory boards of Ukrainian companies, spoke about business financing strategies. Finally, Vasyl Davydko, Managing Director of Leopolis Group, presented the benefits of integrating ESG into corporate strategies.
The Program ended with certificates being awarded and discussions of future steps of cooperation. Participants noted that the intensive not only provided them with new knowledge but also became a platform for sharing experiences and finding new approaches to governance.
More than 50 representatives from various industries attended the module. Among the participants were CEOs, CFOs, managing partners, and members of supervisory boards from companies of different sizes – from small businesses to large state-owned enterprises, including representatives of such organizations as Ukrnafta, Mykolaivoblenergo, GTS Operator of Ukraine, Nova Poshta, Metinvest Digital, Silpo-Food, Kyivmedpreparat, Winner Ukraine, Elko Ukraine, as well as leaders of companies in the IT, healthcare, manufacturing, food and agricultural sectors.
Vyacheslav Volovyk, a Supervisory Board of JSC “OXI BANK” member, noted that “the Program provided concentrated practical information on topical issues of corporate governance development. In addition to a new look at my own experience, I also received examples of real cases and a well-founded logic of decision-making by the Board. I welcome the absence of pressure to make obsessive “right” decisions and templates. I am grateful to my colleagues for their acquaintance and joint work. Special thanks to the authors and organizers of the Program for the mission, high standard of quality materials, and organization of the process.”
Among the participants were also scholarship holders who studied with the support of the European Bank for Reconstruction and Development (EBRD) under the Women in Business Program, funded by the European Union. This support promotes the involvement of women in management structures and creates equal opportunities for career development in corporate governance.
Veronika Yefymenko, CEO of “KI School”, said after completing the course: “This course has given me invaluable knowledge and skills that will come in handy in my career. The lecturers were fascinating and informative. Their professionalism and ability to convey the material helped create a cosy atmosphere for learning. I had the opportunity to interact with experts who shared their theoretical knowledge and practical examples from their activities. The organization of the training was at a high level. Everything was thought out to the smallest detail: from the convenience of the location to the timeliness of the classes. This greatly facilitated the learning process and allowed me to focus on the material. The results of the training exceeded all my expectations. I feel that I have become more confident in my knowledge and am ready to apply it in practice. I am very grateful to the organizers for the wonderful experience! I recommend this course to anyone who wants to develop in the field of corporate governance.”
The EBRD recognizes the importance of improving corporate governance to strengthen Ukrainian businesses and supports women leaders of Ukrainian SMEs with professional development scholarships to help them acquire important skills for the growth and sustainability of their companies.
The next Corporate Director Program, which will take place in 2025, has already been announced: Module I: May 29-30, II module: June 05-06. III module: June 12-14. Join the team of professionals – https://corporatedirector.cgpa.com.ua/3/
