11 June 2012
There is a significant gap in the transparency of supervisory boards of foreign-listed (71%) vs. locally-listed (40%) Ukrainian public companies, according to research published Friday by Odgers Berndtson (Russia) and Talent Advisors (Ukraine). The study included 47 Ukrainian companies (29 foreign-listed and 18 locally-listed) based on available information from April 30-March 15, 2012. The disconnect was most pronounced in terms of the number of independent directors (37% in foreign-listed companies vs. 19% in locally-listed) and biographical information on website (91% for foreign-listed companies vs. 28% for locally-listed). The overall transparency index for supervisory boards in Ukraine lagged CIS-peer Kazakhstan (60% vs. 75%). The full report is available for download in Russian language at www.odgersberndtson.ru.
Key supervisory board findings
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Foreign Local Total
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Overall board transparency index 71% 40% 60%
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Non-executive directors on board 63% 81% 69%
Executive directors on board 37% 19% 31%
Independent directors on board 39% 0% 26%
Males on board 92% 78% 87%
Average age on board 50 yrs 48 yrs 49 yrs
Short biography on website 91% 28% 67%
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Source: Odgers Berndtson & Talent Advisors