On September 29, 2021, Oleksandr Okuniev, Chairman of the CGPA Management Board, took part in the Round Table “The reform to approaches to corporate governance of legal entities, shareholder (founder, participant) of which is the state”. The event aimed to discuss priority aspects of supervisory boards agreeing with stakeholders on a consolidated position on implementing necessary reforms.

Among the participants were: People’s Deputy of Ukraine Pavlo Frolov, Director of the Economics Program of the Ukrainian Institute of the Future Anatoliy Amelin, People’s Deputy of Ukraine Yulia Hryshyna, First Deputy Chairman of the State Property Fund of Ukraine Denys Kudin, Head of the Office of Simple Solutions and Results Maria Barabash and expert of the Office of Simple Solutions and Results Myroslava Chornousko.

The organization of corporate governance in state-owned companies is not modern. At the same time, it is not possible to extrapolate the currently operate approaches concerning the supervisory boards of non-state-owned enterprises to state-owned companies, given the specifics of the latter. At the same time, the obligatory elements should be the following: building an effective management system by determining the strategy of state-owned enterprises, ownership policy, a full audit of the activities of such enterprises. Meanwhile, today the state lacks a strategic vision of the activities of such enterprises, which makes their effective operation impossible.

The participants discussed possible further steps of the state authorities in this direction and legislative proposals for the first reading of Bill 5593-d. More than three dozen proposals have been developed, which provide for the introduction of real responsibility of members of supervisory boards, providing the public with prompt and reliable information on governance principles and the state of affairs in companies, eliminating conflicts of interest and “cross” control of the supervisory board with the executive body, limiting the extremely sensitive for the citizens of Ukraine level of remuneration of members of supervisory boards by European practices, approval by the Government of the schedule of the corporatization of all state unitary enterprises.