Kolomoisky Joined the State Property Fund. His Manager Will Oversee the Largest State Enterprises

Kolomoyskyi has entered the State Property Fund. His manager will control the largest state-owned enterprises.

At the beginning of September, the State Property Fund received a new head. The position was filled by Rustem Umerov, a deputy from Holos.

Before his appointment, the duties of the head of the SFFU were performed by first deputy Olha Batova. She became acting head in February 2022 of the year, after Dmitro Sennychyenko was dismissed.

A few weeks after Umerov's appointment as head of the State Property Fund, the Cabinet of Ministers appointed him a new first deputy — by order dated 27 of September, Dmitro Klymenkov became that deputy.

Dismissed from the post of first deputy head of the State Property Fund, Batova was transferred to the post of advisor to the fund's head.

Batova wrote a resignation letter in July, after she made a resonant statement that the State Property Fund cannot restore control over Ternopiloblenergo. The state owns 50,99% of the shares in the energy company, but the enterprise is controlled by oligarch Ihor Kolomoyskyi.

After this statement she promised to gather the media and tell everything in detail, but later she changed her mind. Two months later she was dismissed and reassigned as an advisor to the head of the State Property Fund.

Meanwhile, her place was taken by Dmitro Klymenkov, who for the last ten years worked at Igor Kolomoyskyi's company, Ukraine International Airlines (UIA).

That is, the former top manager of the oligarch's company was appointed as the first deputy head of the State Property Fund, a position previously held by a official who publicly stated the de facto takeover of a state enterprise by this oligarch.

The SFFU press service said that “Klymenkov will handle issues of restoring the operation of the largest state enterprises and implementing modern corporate governance standards.”

So the newly appointed deputy head of the SFFU will oversee the work of the largest state-owned enterprises, as well as shape their staffing policy (he will have influence over the dismissal and appointment of managers).

In addition, Klymenkov may head the supervisory boards of the largest enterprises under the SFFU's management.

Largest enterprises under the management of the SFFU

— Odessa Port Plant (the largest producer of fertilizers and controls the transshipment of ammonia from the Ammonia Pipeline Togliatti-Odessa);

— CentrEnergo power producer together with state coal companies (previously Kolomoyskyi already controlled this enterprise);

— United Mining and Chemical Company — one of the world's largest producers of titanium feedstock;

— Sumykhimprom fertilizer producer (still controlled by Firtash's management);

— Ternopiloblenergo (already controlled by Kolomoyskyi);

— Several dozen alcohol plants (interesting from the point of view of producing ethanol for blending with gas condensate and manufacturing bio- gasoline).

Source: ORD