New supervisory board announced for national energy trading firm

The ECU is one of Ukraine's largest energy traders, and the largest importer of power from the European Union. ECU imports from the EU are often used to stabilize the Ukrainian power grid following Russia missile attacks.

The supervisory board members were chosen via competitive selection and consist of three independent members and two government representatives.

41 candidates competed to be chosen as an independent supervisory board member.

The independent members are listed below.

Peter Styles, managing director of energy consultancy Stratos Energy Consulting. He was an executive member of the board at the European Federation of Energy Traders (EFET) for over twenty years. Prior to that role, he was vice president at Enron Europe. Styles has experience with implementing large-scale energy, trading, and gas projects across Europe, as well as in the fields of renewable energy and carbon trading.

Abdullah Koksal, a member of the executive board of energy distribution firm Yedas Grids (part of Turkish holding Calik Enerji). He worked at Ukrainian energy company DTEK for over three years, overseeing the launch of the YASNO brand. He has occupied leadership positions in the Turkish Enerjisa company (a venture from Sabanci Holding and E.ON), which oversees over nine million clients. He has also worked with electronics firm Siemens in Turkey.

Oleksandr Muzhel, senior manager at consulting firm LCHM (registered in the UK), specializing in compliance and auditing. He has previously held leadership roles at Bank of America, Merrill Lynch, and ING Bank, where he oversaw primary market activities, including raising capital for large energy companies. From 2021 to 2023, he was a supervisory board member at Ukrainian regional energy company Centrenergo.

Government representatives are listed below:

Oksana Osmachko, deputy chairwoman of the State Property Fund. She earlier held leadership roles in a number of private businesses and associations, specializing in foreign economic activity.

Ihor Tymoshenko, deputy chairman at the State Property Fund. Prior to taking the role at the State Property Fund, he spent over thirty years in leadership positions in executive bodies in Rivne Oblast.

Energy Company of Ukraine (ECU) - a state-owned energy trading firm that offers complex purchase, sales, and distribution solutions for energy resources. The ECU is one of Ukraine's top five energy traders and a leader in cross-board energy trading, as well as in green energy trading. The ECU established Ukraine's first state-owned power grid balancing association, which is currently the second-largest such ground in the country. ECU's clients generate 10% of Ukraine's GDP. The company is 100% owned by the Ukrainian state, and is managed by the State Property Fund.