Press-release
Ivan Plachkov Appointed the Chairman of Kievenergo's Supervisory Board
January 23rd 2012, Kiev. Ivan Plachkov, a deputy of Kiev City Council, has become the Chairman of the Supervisory Board of Kievenergo. The decision was made at the first meeting of the Supervisory Board, the new membership of which was elected by the company's extraordinary General Meeting of Shareholders today. Apart from Ivan Plachkov, the following members have been elected to the Supervisory Board: National Joint-Stock Company 'Energy Company of Ukraine', DTEK LLC, DTEK Holdings Ltd, DTEK Holdings B.V., DTEK Investments B.V.
'We understand the importance of cooperation with Kiev's community on the management of the capital city's utility company. DTEK is ready to develop such a dialogue within the framework of Kievenergo's Supervisory Board. Nowadays, Ivan Plachkov has become an independent member and the chairman of the Supervisory Board. He will represent the interests of Kiev City Council and Kiev City State Administration, and help us to find the right solutions for complicated issues. Ivan Plachkov is well aware of financial and operational issues of the company's activities as well as challenges in energy sector. For near 25 years, Mr Plachkov has worked for the company, growing from an inspecting engineer to CEO; later he served twice as the Minister and knows the ins and outs of the executive apparatus as well as is familiar with the situation in Kiev. In his new office, he will be actively involved in the company's large-scale modernization programme, which should make the company the role model for Ukraine's power industry,' says Maxim Timchenko, DTEK's CEO.
'I have decided to come back to my native company with only one objective in mind - to put in practice my developments of the last years on the reforming of Kiev's electricity and heat supply system. Under preliminary estimates, within the next five years, at least, UAH 7bn needs to be invested to ensure reliable and quality services to Kiev dwellers. Few investors are ready to risk such money to be paid back only in 15 to 20 years. I am sure that the new owner of the controlling stake in the capital city's utility will be capable of providing financial, technical, and human resources to implement its strategic development plan to the benefit of city's community. To achieve this goal, the understanding and support of the National Electricity Regulatory Commission, Kiev City State Administration, Kiev City Council and all Kiev citizens are essential', says Ivan Plachkov.
The Supervisory Board of Kievenergo, consisting of 6 people, determines the company's development strategy and provides an efficient control over financial and business activities. The Board is also set up to exercise and protect shareholders' rights, resolve corporate conflict and supervise the efficiency of the company's executive body represented by the CEO.
Reference
Ivan Plachkov was born on November (Stuttgart: A0Z24E - news) 23, 1957, in the village of Krynychne, Bolgradskiy District, Odessa Region. In 1980, he graduated from Odessa Polytechnic Institute with the diploma of Heat Power Engineer.
From 1980 to February 1999, he grew from an inspecting engineer to the CEO of Kievenergo. From February to December 1999, he held the office of the Minister of Energy (NYSEArca: JJE - news) of Ukraine. Since January 2000 to February, he was the Chairman of the Board and CEO of Kievenergo. From February 2005 to August 2006, he was the Minister of Fuel and Energy of Ukraine.
From August 2006 to November 2007, he chaired Odessa Regional State Administration. He served as an advisor to the President of Ukraine and deputy head of the State Administration.
Since 2008, he has been a member of Vitaliy Klychko Bloc in Kiev City Council and since February 2011, a member of UDAR of Vitaliy Klychko party.
PhD in Technical Sciences (2005). Winner of Ukrainian State Prize in Science and Technology. Honourable Power Engineer of Ukraine (1996). Holder of the Order of Saint Prince Vladimir of IV degree (1999), Certificate of Merit of the Cabinet of Ministers of Ukraine (2000), the Order of Merit of IIІ degree (2004).
DTEK is the largest privately-owned vertically-integrated energy company in Ukraine. The Company is part of the financial and industrial group System Capital Management (SCM). DTEK's enterprises form an efficient production chain from coal mining and preparation to electricity generation and supply.
The coal business of DTEK includes DTEK Pavlogradugol (consisting of 10 coal mines), DTEK Dobropolyeugol (5 mines), DTEK Mine Komsomolets Donbassa and five coal preparation plants as well as DTEK Rovenkianthracite (6 mines and 3 coal preparation plants) and DTEK Sverdlovanthracite (5 mines and 3 coal preparation plants).
The power generation business of DTEK is represented by Vostokenergo and Zapadenergo, as well as the associated company Dneproenergo, where DTEK owns 47.55%.
Service-Invest, DTEK Energougol ENE and Donetskoblenergo companies represent the electricity sales and supply business of DTEK.
Kievenergo, a company generating and supplying heat and electricity in the city of Kiev, is also part of DTEK.
For more information please see: www.dtek.com.
Kievenergo is an energy company supplying electricity and heat to the capital of Ukraine, combining the processes of production, transmission and sales. The Company operates two combined heat power plants, CHPP-5 and CHPP-6, which have a total installed capacity of 1,200 MW. Its (Euronext: ALITS.NX - news) electricity is transmitted via a network of aerial and cable lines with a total length of 11,500 km.
Heat is produced at CHPP-5 and CHPP-6, as well as at heat-supply and boiler plants. The total installed heat capacity is 8,500 Gcal per hour. Heat is transported to consumers via a network of pipes totalling 2,300 km in length.
For more information please see: www.kyivenergo.ua
Contacts:
Alyona Semykina
IR manager
DTEK
direct +38 (044) 581 45 22
This document may contain forward-looking statements related to the planned measures or future financial indicators of DTEK. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" or the negatives of these terms or variations of them and similar expressions are intended to identify such forward-looking statements. Accordingly, actual results may differ materially from those expressed or implied by the forward-looking statements. We undertake no obligation and do not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. By their nature, forward-looking statements are subject to numerous assumptions, risks and uncertainties. Such risks include concerns over the general economic status, environment and risks associated with the doing business in Ukraine, significant technological and environmental changes in our sector, as well as many other risks specifically applicable to DTEK and its business.
There are no comments yet