Former Lithuanian energy minister takes charge of Energoatom Supervisory Board

MOSCOW. Jan 20 (Interfax) - Former Lithuanian Energy Minister, Chief Presidential Environment and Infrastructure Advisor Jarek Neverovic has become chairman of the Energoatom Supervisory Board, a source in the Ukrainian government told Ukrainian media.

Neverovic is an independent member of the Energoatom Supervisory Board, which was established in June 2024 but has yet to run at its full capacity.

Neverovic held various positions in the Lithuanian government overseeing the electricity transmission system, management of investment funds, and cooperation with national and transnational corporations.

The sources said that another independent member of the Supervisory Board Timothy Stone refused to sign a contract but said he would considering being an advisor.

As reported, Stone is a former independent director of the British Horizon Nuclear Power, non-executive director of the European Investment Bank and chair the UK Nuclear Industry Association (NIA).

Ukrainian Energy Minister German Galushchenko said earlier that the Energoatom Supervisory Board would elect its chairman and begin full-scale operations on Friday, January 17.

"I think it will solve the problem of corruption. [...] The chair of the [Energoatom] Supervisory Board will be elected today. Therefore, the Supervisory Board will be functioning and monitoring every decision made. I believe this the best solution from the angle of corporate management," Galushchenko said at the Hour of Questions to the Government in the Ukrainian parliament.

A government resolution of June 21, 2024, confirmed Timothy John Stone, Michael E. Kirst, and Jarek Neverovic as independent members of the Energoatom Supervisory Board and Timofei Milovanov and Vitaly Petruk as government representatives.

The Supervisory Board has yet to begin full-scale operations. Sources told Ukrainian media that independent members were discontent with their remuneration.

A government resolution of November 26, 2024, approved terms of contracts with members of the Energoatom Supervisory Board, without disclosing details.

In December 2024, First Deputy Economy Minister Alexei Sobolev said that the government was expecting independent members of the Energoatom Supervisory Board, the first meeting of which had been open since July 17, to clarify their stance on contracts and the readiness to continue their work. In his words, the offered terms were consistent with remuneration in other large energy companies of Ukraine.