In late September—early October 2024, experts of the Ukrainian Corporate Governance Institute (UCGI), with the support of the Corporate Governance Professional Association (CGPA), conducted a professional development program on the topic “Fundamentals of Corporate Governance” for the senior executive management of JSC UKRTRANSGAZ. This program has become an important step in training the company’s employees in corporate governance and will contribute to the company’s future development.

The program included two modules, each offering a detailed overview of different aspects of corporate governance.

The first module was opened by Oleksandr Okuniev, Chairman of the CGPA Board of Directors. His speech was devoted to the main elements of corporate governance, identification of best practices, as well as the issues of assessing the level of governance and building an effective model of corporate governance in companies. Volodymyr Igonin, Partner and Head of Corporate/M&A Practice at Vasil Kisil & Partners, member of the CGPA Board of Directors, spoke about the peculiarities of corporate governance in companies with a significant state share, focusing on the challenges for Ukrtransgaz top management.

The next day of the first module of the program, Oleksandr Okuniev continued with a lecture on the role and competence of the Board of Directors of a joint-stock company, highlighting the tasks of the Board, organization of its work, interaction with the executive body and committees of the Board.

The second module of the program began with a lecture by O. Okuniev on succession planning in company management and the activities of the Board’s Nomination Committee. V. Igonin spoke about the grounds and procedure for bringing officials to liability, conflicts of interest and related-party transactions.

Olyana Gordiyenko, Director of Corporate Governance at ICU Group and former Chairman of the Supervisory Board of PJSC Ukreximbank, shared her experience of interaction between the executive body and the Board and subordinate services, such as internal audit, risk management and compliance. Oleksandr Onufrienko, attorney at law and PhD in law, spoke about the need to conclude contracts with top managers, and Serhiy Konovets, an independent member of the Supervisory Board of Ukrainian Defense Industry JSC, focused on the role of the Board in determining the remuneration of senior executives of a state-owned company. The program concluded with a presentation by Dmytro Sergiyenko, Director of the Audit Department at Ukrzaliznytsia JSC, who spoke about the specifics of organizing the work of the internal audit service.

All participants completed the training and received certificates. During the final session, the possibilities of further cooperation were discussed. This program is an important step in improving corporate governance at JSC UKRTRANSGAS, which aims to increase the company’s efficiency and sustainability.
The Corporate Governance Fundamentals program aims to develop key skills and knowledge in corporate governance for senior executives. The main goal is to help managers effectively interact with supervisory boards and improve strategic planning, risk management and corporate control. The program also covers the role of the board in appointing executives, succession planning and ensuring sustainable development of companies, which allows for the implementation of best management practices and increases the efficiency of the organization, as well as adapting it to the needs of any company, regardless of its specifics or industry.