What is the procedure for dismissal of Chief Executive Officers in Ukrainian companies with foreign shareholders?
Upon lifting of the quarantine rules, many companies start to resume their activity. All of them intend to renew activities with minimum expenses and maximum comfort for their employees. Many companies will look for optimisation options. Below the INTEGRITES team summarises the main solutions available under the effective laws of Ukraine.
“Ukraine is gradually returning to normal operations,” says Valentyn Gvozdiy, Managing Partner at Golaw in Kyiv, but he admits the preceding period has been difficult. “Most companies had to face many challenges of finding new ways to work in a short time span. Closing of industries and venues, self-isolations and lockdowns, strict bans on business activities, and public events were important measures needed to prevent and fight this virus. However, experienced managers understand the situation and fortunately knew how to cope with the issues that arose with the COVID-19 outbreak.”
In the European Commission’s January 8 Report on the protection and enforcement of intellectual property rights in third countries, Ukraine was identified as a Priority 2 country. This category includes countries with systematic problems in the area of intellectual property protection and enforcement, causing significant harm to EU countries.
As of November 2019, certain RES producers have been intermittently forced to reduce their output or halt production of electrical energy altogether under the commands of Ukraine’s transmission system operator, NEC Ukrenergo. DTEK, along with several other large market players led the call for limitations. Many of the country’s RES producers have become alarmed.
Before being elected President of Ukraine last May, Volodymyr Zelensky had virtually no experience in public office. Despite his inexperience – or perhaps because of it – over 73% of the electorate concluded that the comedian and entertainer was the right man to replace Petro Poroshenko, the previous President, and now Zelensky finds himself, at 41, leading an entire nation.
Quarantine restrictions implemented by the Ukrainian Government due to the COVID-19 pandemic had a sensible impact on the business in Ukraine, which can’t disappear without any trace. A lot of companies tried or are still trying to find a reasonable solution in order to reduce expenses on staff, as well to optimize their business processes and revise organizational structures.