PrivatBank Supervisory Board starts selection process for bank’s Board Chair position

The Supervisory Board of PrivatBank has started the selection process for the position of the Chairman of the Board of PrivatBank in accordance with the best standards of corporate governance.

The Ukrainian News agency was informed about this by PrivatBank.

This decision is based on the study and analysis of the current situation in Ukraine, as well as the vision and needs for the further development of PrivatBank.

The Supervisory Board is grateful to Gerhard Boesch over the past 3 years for his dedication and resilience and for achieving business results in a very volatile and challenging environment.

Boesch will continue to fulfill his duties in full for the time being.

As the Ukrainian News agency earlier reported, media informed that Gerhard Boesch decided to resign early from the position of the Chairman of the Board of PrivatBank.

PrivatBank appointed Gerhard Boesch as the Chairman of the Board in May 2021, and in June the NBU approved his candidacy.

He was appointed for 5 years.

The chairman of the board of a state bank is appointed by the bank's supervisory board based on the results of a competitive selection process.

The chairman of the board of a bank takes office after the approval of his candidacy by the National Bank.