With the Naftogaz CEO’s five-year contract due to expire tomorrow, the government has decided to renew it for one more year

With the Naftogaz CEO’s five-year contract due to expire tomorrow, the government has decided to renew it for one more year. With two elections and the Gazprom gas transit contract expiring, the government evidently decided Wednesday to keep a steady hand on the tiller to traverse a potentially stormy year. In response to the government’s objection to his “stratospheric” salary, CEO Andriy Kobolyev accepted a proposal by the Supervisory Board to cut his salary in half, to $19,330 a month without bonuses. Two weeks ago, the Cabinet of Ministers amended the Naftogaz charter to shift hiring and firing power over the CEO from the Board to the shareholders, i.e. the government.