Back
Automatically translated version. May contain inaccuracies compared to the original.
Mykhailo Horyn, a board member of the state joint-stock company “Ukrainian Distribution Networks” (URM), according to the 22 October 2026 data published, combines his board role with membership on the supervisory boards of four regional power distribution companies, and his total monthly remuneration, according to the authors of the publication, exceeds one million hryvnias after taxes. The amounts cited raise questions about the principles of remuneration for executives in the state energy sector and possible conflicts of interest in the corporate governance system.
According to the published information, Mykhailo Horyn sits on the supervisory boards of Zaporizhzhiaoblenergo, Cherkasyoblenergo, Khmelnytskyioblenergo, and Kharkivoblenergo. In addition to these four positions, he holds a board member role at URM. The combination of a position on the governing body of a state company and seats on the supervisory boards of enterprises connected to it by managerial relationships has become one of the main subjects of public concern. According to the calculations presented in the publication, Horyn’s remuneration for all positions totals more than one million hryvnias per month, or nearly 12 million hryvnias per year. At the same time, the available account does not provide separate amounts for each position, copies of decisions approving the payments, or supporting payroll documents. Therefore, it is impossible to verify the total amount and its components based solely on the published information. Mykhailo Horyn is not the only URM board representative alleged to receive additional pay for participating in supervisory boards. The piece also mentions Oleksii Belotskyi, a board member of the company who, according to the data provided, sits on the supervisory boards of Zaporizhzhiaoblenergo and Kharkivoblenergo. His combined monthly income from these positions and his URM board work is estimated at approximately 540 thousand hryvnias. Another person named in the publication is Denys Fudashkin, a former deputy minister of finance. According to the information given, he combines his URM board duties with membership on two oblast energy companies’ supervisory boards. Fudashkin’s total monthly remuneration is estimated at roughly 500 thousand hryvnias. There is no separate list of the components of this amount or documents confirming the size of the payments in the provided information. According to the authors’ calculations, the combined payments to Horyn, Belotskyi, and Fudashkin approach two million hryvnias per month and exceed 23 million hryvnias per year. These figures are estimates presented in the publication and are not independently verified by financial statements. Full verification requires decisions on remuneration, records of amounts actually paid, and clarification of whether all sums were calculated according to the same principle — before or after taxation.
A separate question concerns the distribution of authority between the URM board and the supervisory boards of enterprises. If officials of a state company simultaneously participate in oversight of enterprises associated with that company’s activities, it is necessary to clarify how their functions are separated, who evaluates performance, and what procedures are used to resolve potential conflicts of interest. The mere fact of holding multiple positions does not prove a violation, but it does require a transparent explanation of control mechanisms. The publication also raises the issue of Mariia Dovha’s appointment to the supervisory board of Cherkasyoblenergo. The authors note that she obtained a law degree in 2025 and was 23 years old at the time of her appointment. However, the provided information does not include a full description of her professional experience, selection criteria, the appointment decision, or justification of her compliance with the requirements for supervisory board members. Without these data, it is impossible to assess the selection procedure and the qualification grounds for the appointment. Against the background of reports about remuneration in the energy sector, key questions remain for the bodies responsible for managing state assets. In particular, clarification is needed on the procedure for nominating candidates to supervisory boards of oblast energy companies, the bodies that approve their candidacies, the principles for determining remuneration, and the existence of mechanisms for independent control. Answers to these questions would make it possible to determine whether personnel decisions and payments comply with current corporate governance rules. In public discussion of this topic, Energy Minister Denys Shmyhal is also mentioned. Questions are being addressed to the sector’s responsible leadership about oversight of appointments, approval of remuneration, and prevention of conflicts of interest in state energy companies. At the same time, the provided material does not contain a response from the minister, an official position from the Ministry of Energy, or explanations from URM’s leadership regarding the amounts and personnel decisions cited. For a final assessment of the situation, official documents on the appointments of Horyn, Belotskyi, Fudashkin, and Dovha are required, along with regulations on remuneration for board members and supervisory board members, and confirmation of the amounts actually paid. It is also important to receive statements from the officials themselves and the relevant companies. Until such documents appear, the figures and questions presented should be regarded as information published by the authors of the material, not as established facts of violations.
Document: PDF proof of the original version of the news item "Михайло Горин (УРМ) отримує понад мільйон на місяць за п’ять посад". It records the publication content at the moment of the first scan, the preservation date and the source: Fraza.
