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“Naftogaz of Ukraine” suspended Prokopov from office of the President “Ukrtransgaz”

The Board Natsionalnoy joint-stock company (NAK) “Naftogaz Ukraine” Igor Prokopov suspended from his duties as President of “Ukrtransgaz” and the management company will assume the first Vice-President of “Ukrtransgaz” Miroslav Khimko.

According to a press release of “Naftogaz of Ukraine” circulated on Friday morning, the decision was made by the Board and approved by the Supervisory Board of the holding.

“The procedure for removal provided by the Charter of “Naftogaz”, which the Cabinet of Ministers of Ukraine adopted in December 2016,” said the company.

The press release notes that the changes in “Ukrtransgaz” will not affect gas supplies to Ukrainian consumers and gas transit will continue in full in accordance with contractual obligations.

The company was reminded that the independent auditor of the group, Deloitte&Touche, found a number of violations during an official audit of the accounts of “Ukrtransgaz” . Later on these issues were investigated as the external auditor, and the newly created organ of internal audit of “Naftogaz of Ukraine”.

“Further investigation confirmed preliminary findings and helped to collect more evidence of the mismanagement of procurement. The facts of the violations have led to further parallel investigations spanning over a wide range of issues”, – noted in a press release.

In addition, the NAC announced that in the framework of a radical reform of corporate management of “Naftogaz of Ukraine” introduces a new system of internal control in all group companies, and such internal audit has been launched in all subsidiaries.

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