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Automatically translated version. May contain inaccuracies compared to the original.
Mykhailo Horyn — one million hryvnias a month from five positions. How did the leaders of Ukrainian Distribution Networks turn the supervisory boards of regional power companies into a source of million-hryvnia incomes?
While Ukrainians live with power outages and energy workers restore networks destroyed by Russians under shelling, the issue of a system of multi-thousand payments to management has arisen at the state JSC “Ukrainian Distribution Networks” (UDN). Mykhailo Horyn, a member of UDN’s management board, simultaneously holds positions on the supervisory boards of four regional power companies: Zaporizhzhiaoblenergo, Cherkasyoblenergo, Khmelnytskoblenergo, and Kharkivoblenergo.
His total monthly compensation is more than one million hryvnias net. That is almost 12 million hryvnias per year. But Horyn is not alone.
• Oleksii Belotskyi, a member of UDN’s management board, is also on the supervisory boards of Zaporizhzhiaoblenergo and Kharkivoblenergo. His total income is about 540 thousand hryvnias per month.
• Denys Fudashkin, a former deputy minister of finance, combines his role on UDN’s management board with membership on two regional power company supervisory boards. His total compensation is about 500 thousand hryvnias monthly.
Together the three of them take nearly 2 million hryvnias per month. Over 23 million per year.
And here’s the main point. These officials are not just getting paid for multiple positions. They simultaneously work in the management of a state company and in the oversight bodies of the enterprises that this company controls.
In other words, the managers find themselves on both sides of the corporate control system.
Who appointed them to the supervisory boards? Has UDN created a system in which managers effectively control themselves while receiving additional hundreds of thousands of hryvnias for it?
And personnel policy. A 23-year-old lawyer, Mariia Dovha, ended up on the supervisory board of Cherkasyoblenergo, having only received her diploma in 2025. According to what criteria were such appointments made and who assessed the candidates’ qualifications?
And those responsible for the transparency of this system are not only UDN’s managers but also those who approved the appointments and oversee the company.
Public questions to Minister of Energy Denys Shmyhal: who allowed such a concentration of positions, who approved the payments, and why are there still no clear explanations regarding possible conflicts of interest?
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