In a big setback for corporate governance, ‘temporary’ Covid-era salary cuts may be permanent for independent supervisory boards

In a big setback for corporate governance, ‘temporary’ Covid-era salary cuts may be permanent for independent supervisory boards set up during the Poroshenko era for state companies — Naftogaz, Privatbank, Ukreximbank, and Ukrzaliznytsia. Timothy Ash writes: “Cynics would argue that the supporters of state capture are driving the salary cap, to force out independent supervisory boards, and lay out state companies for further exploitation by oligarchic and corrupt interests.”