“Ukrzaliznitsa” became private
The Cabinet of Ministers changed the type of joint stock company Ukrzaliznytsia from public to private, a PolitNavigator correspondent reports.
The government made the corresponding decision at a meeting on Wednesday without discussion, the Government Portal reports.
The Cabinet of Ministers also redistributed powers between the shareholder (Cabinet), the supervisory board and the board of the company in accordance with the requirements of the Law “On Joint Stock Companies” and in order to achieve effective corporate governance and simplify the process of attracting potential investors.
According to the updated charter of Ukrzaliznytsia, the supervisory board remains part of the bodies that ensure the work of the private joint stock company along with the general meeting, the board and the audit commission. Also, the company’s charter stipulates the requirement for an annual audit of the financial statements of a joint-stock company to be carried out by an independent auditor.
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