SPF announces replacement of Centrenergo director, return of company to state control.

The supervisory board of Centrenergo on Friday replaed acting director general of the company, appointing Oleksandr Korchynsky to the post, who was approved by the Ukrainian government at the end of February, Head of the State Property Fund (SPF) of Ukraine Dmytro Sennychenko has said.

"Today we returned Centrenergo to state control despite all the resistance: judicial trolling, repeated mining of the State Property Fund's building, pressure on the supervisory board," he wrote on his Facebook page.

According to the head of the SPF, conclusions were drawn after past unsuccessful attempts to appoint a new head of the company when they broke through injunctions and calls that the SPF was mined.

"We conducted a one-day quick-fix operation: the court's decision, convening the supervisory board, amendments to the register and the introduction of the new head of Centrenergo. All this today, literally in 4-5 hours," Sennychenko said.

According to him, the task now will be "to find out everyone who has switched to the dark side of the force," since the Fund, which controls the majority stake in the company, today does not have information about the state of affairs at the enterprise, and the previous management of Centrenergo hid the audit data.

"We are doing all this so that Centrenergo turns from a black hole of the Ukrainian budget, where about UAH 100 billion has disappeared since 2004, to the door to economic development and investment. From transparency and order at the enterprise to successful and reasonable privatization, the road is direct and short. And the first step has already been taken," the head of the SPF wrote.

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