Vasil Kisil & Partners Advise Nibulon on Corporate Governance Enhancement
09/11/2023
Nibulon, Ukraine's leading grain exporter, is revamping its corporate governance practices to ensure sustainable business management. The changes include a shift to a one-tier governance structure, the introduction of a Board of Directors with committees, and a number of internal policies.
Vasil Kisil & Partners' team has helped the company to efficiently allocate competence among the company's governing bodies, with due regard to the specifics of Nibulon's business. Based on an approved authority matrix, Vasil Kisil & Partners' lawyers have prepared the following key documents to implement the one-tier governance structure: Articles of Association, Regulations on the Board of Directors and four committees within the latter, agreements with executive and non-executive members of the Board of Directors.
Anna Lazurenko, Nibulon's Director of Legal Affairs, comments on the project: "A clear understanding of the goals of the changes, expertise and an unbiased view on the company's internal situation are essential to a comprehensive transformation. We are thankful to Vasil Kisil & Partners for an open professional discussion and their willingness to stand up for the positions in the interests of the company. Vasil Kisil & Partners' expertise and business-oriented approach significantly help the project. I want to thank the EBRD specifically for supporting Nibulon in this important project."
Welcoming the implementation of good governance practices, Volodymyr Igonin, Partner at Vasil Kisil & Partners, said, "It is not easy to make changes in a "fully-grown" company established yet in 1991. Nibulon has a glorious history. I am sure that Nibulon will benefit from modern corporate governance aligned with the best standards. During our cooperation, we have seen how all Nibulon team members feel for the company and strive to pursue its successful path as one of the first companies in independent Ukraine. We are happy to contribute to this."
Volodymyr Igonin, Partner and Head of Corporate practice, leads project team. The team also included Valeriya Bezpala, Partner and Head of Labour and Employment, Senior Associate Artem Shmatov and Associates Olha Lynnyk, Oleksii Ozvynchuk and Marko Holovach.