Return to news
4 April, 2018
The Supervisory Board Cannot Manage State Defence Concern Ukroboronprom Without Access To All Its Documents
To fight corruption at Ukroboronprom, one needs to build adequate mechanisms of corporate governance. The first and the foremost is to establish a really independent and viable Supervisory Board and to provide it with the access to all documents of the concern. This point of view was expressed in the information project “First About Important. Comments at ZIK TV Channel by Taras Yemchura, the analyst of the Independent Anti-Corruption Committee, Transparency International Ukraine.

Corruption in the defence sector of Ukraine is the only thing which can harm the internal production of weapons and its delivery here from international partners. Thus, this problem must be solved in a consistent manner, as the methods with the localized impact are inefficient. “There is no way to fight with the consequences of the corruption without overcoming it. And we have remained in this process for quite a long time. During the last year we have tried to establish cooperation with Ukroboronprom in order to change the approaches to the concern management”, - said Yemchura. He claims that it’s only possible to root out corruption if “adequate mechanisms” of corporate governance are established there.

“Because now we have the inherited old system – the hybrid of Soviet system and the one that was built already at the times of Yanukovych. However, there are OECD standards of corporate governance of enterprises. They clearly define how the responsible government should deal with the management of state property,” – the expert said. He stressed that the first step to introduce such standards must be the establishment of the independent Supervisory Board. “Unfortunately, in the recent several years the Supervisory Board at Ukroboronprom was inefficient. There was no quorum there which allowed the General Director of the company to approve decisions single-handedly. Now the work of the Supervisory Board was reestablished, and we welcome such a step”, - said Yemchura.

Source: http://bit.ly/2GjRSZb