Ukroboronprom corporatizes 34 enterprises

A total of 34 enterprises have already been corporatized as part of Ukrainian Defense Industry JSC (Ukroboronprom) under Ukraine’s defense industry reform.

The relevant statement was made by Ukrainian Defense Industry JSC Corporatization Department Head Anton Savchenko during a public discussion on corporate governance reform in Ukraine’s defense industry, an Ukrinform correspondent reports.

“More than 30 Ukroboronprom enterprises have been corporatized, 34 to be precise, and we expect a few more enterprises to be converted into joint-stock companies or limited liability companies in the near future,” Savchenko said.

At the same time, transparent competitive selections are underway to appoint the heads of corporatized enterprises. Today, 19 managers have already been selected and appointed.

“Currently, the process of bringing the work into compliance with the laws on joint-stock companies and limited liability companies is underway in such enterprises. In particular, the registration of immovable and movable property, which was inventoried, has started,” Savchenko explained.

The next step in corporate governance reform at Ukrainian Defense Industry JSC in 2024 will be the development of a network of anti-corruption officials at enterprises, property registration, and building an updated corporate structure of scientific and production branches in the defense industry.

A reminder that, on June 29, 2023, Ukroboronprom State Concern was transformed into Ukrainian Defense Industry JSC. According to Ukrainian Defense Industry JSC CEO Herman Smetanin, upon the completion of state registration, a total of 38 enterprises will be corporatized.