Politics 2023-05-15T05:57:36+03:00
Ukrainian news
PrivatBank Appoints Bosch Board Chair

PrivatBank Appoints Bosch Board Chair

PrivatBank, board chairperson, Gerhard Bosch

PrivatBank appointed Gerhard Bosch as chairman of the board.

The bank has said this in a statement, Ukrainian News Agency reports.

According to the statement, Bosch is an experienced banker with 35 years of experience, who has worked for 15 years in leading positions in the banking sector of Ukraine and has a thorough understanding of the Ukrainian and European banking systems.

From November 2010 to April 2021, Bosch worked as first deputy board chairperson of Raiffeisen Bank Aval.

He has successfully led major bank transformation projects, in particular privatization processes.

It is noted that Gerhard Bosch will take over as chairperson of the board after approval of his candidacy by the National Bank.

"The completion of the competitive selection is an important factor for the further development and success of the bank," the regulator emphasized.

As Ukrainian News Agency earlier reported, on February 26, 2021, PrivatBank filed an appeal against the decision of the Economic Court of Kyiv dated February 24 to secure a claim against the bank and the government from the primary trade union organization of PrivatBank employees by prohibiting any actions to elect and appoint the chairperson of the board of PrivatBank.

Conducting a competitive selection of top management of state-owned banks is a prerequisite for the functioning of the corporate governance system, fixed in the Development Strategy of state-owned banks and the relevant legislation.

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